Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world.
For a second straight day, the S&P 500 dropped to its worst loss in five weeks. The latest wave of selling came after a report showed hiring by U.S. companies slowed more than economists expected last month, with mining and manufacturing particularly weak. It added to worries that shook markets a day earlier, when a reading on U.S. manufacturing growth dropped to its worst level in a decade.
The S&P 500 index lost 52.64 points, or 1.8%, to 2,887.61.
The Dow Jones Industrial Average fell 494.42, or 1.9%, to 26,078.62.
The Nasdaq dropped 123.44, or 1.6%, to 7,785.25.
The Russell 2000 index of smaller companies lost 13.80 points, or 0.9%, to 1,479.63.
For the week:
The S&P 500 is down 74.18 points, or 2.5%.
The Dow is down 741.63 points, or 2.8%.
The Nasdaq is down 154.38 points, or 1.9%.
The Russell 2000 is down 40.85 points, or 2.7%.
For the year:
The S&P 500 is up 380.76 points, or 15.2%.
The Dow is up 2,751.16 points, or 11.8%.
The Nasdaq is up 1,149.97 points, or 17.3%.
The Russell 2000 is up 131.07 points, or 9.7%.
The Associated Press