The stock market slumped Tuesday as investors worried about the outlook for global economic growth.
Industrial production in Germany, Europe’s largest economy, dropped the most in five years in August and the International Monetary Fund trimmed its outlook for global growth this year and next.
The Dow Jones industrial average lost 272.52 points, or 1.6 per cent, to 16,719.39.
The Standard & Poor’s 500 index dropped 29.72 points, or 1.5 per cent, to 1,935.10.
The Nasdaq composite fell 69.60 points, or 1.6 per cent, to 4,385.20.
For the week:
The Dow Jones industrial average lost 290.30 points, or 1.7 per cent.
The Standard & Poor’s 500 index dropped 32.80 points, or 1.7 per cent.
The Nasdaq composite fell 90.42 points, or 2 per cent.
For the year:
The Dow is up 142.73 points, or 0.9 per cent.
The S&P 500 index is up 86.74 points, or 4.7 per cent.
The Nasdaq is up 208.61 points, or 5 per cent.