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Weak economy drives down stocks
Stocks tumbled today, with the S&P sliding more than 6 percent, as news pointing to the deepening economic slump around the world punctured last week's market enthusiasm, with financial services companies and retailers among Wall Street's biggest casualties.
The Dow Jones industrial average slid 450.41 points, or 5.10 percent, to 8,378.63. The Standard & Poor's 500 Index dropped 55.12 points, or 6.15 percent, to 841.12. The Nasdaq Composite Index lost 95.50 points, or 6.225 percent, to 1,440.07.
The drops occurred on a day when the National Bureau of Economic Research announced that a U.S. recession began in December 2007.
More at: http://link.latimes.com/r/19MK67/323MB/9IQWZO/DSC1/U3N9I/ZH/t
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