A slump in oil prices sparked a global sell-off in financial markets on Friday with losses spreading from Asia to Europe to the U.S., where stocks fell sharply to cap their worst week since the summer. The selling was broad, with all 10 sectors of the Standard and Poor’s 500 index ending down.
The Dow Jones industrial average lost 309.54 points, or 1.8 per cent, to 17,265.21.
The Standard & Poor’s 500 index lost 39.86 points, or 1.9 per cent, to 2,012.37.
The Nasdaq composite declined 111.71 points, or 2.2 per cent, to 4,933.47.
For the week:
The Dow fell 582.42 points, or 3.3 per cent.
The S&P 500 fell 79.32 points, or 3.8 per cent.
The Nasdaq dropped 208.80 points, or 4.1 per cent.
For the year:
The Dow is down 557.86 points, or 3.1 per cent.
The S&P is down 46.53 points, or 2.3 per cent.
The Nasdaq is up 197.41 points, or 4.2 per cent.