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Dow average plunges 513 points, worst drop since 2008

NEW YORK — The stock market is finishing its worst day since the financial crisis.

The Dow Jones industrial average plunged more than 500 points Thursday. Investors are concerned that the U.S. economy will enter another recession and that Europe’s debt problems are not closed to being solved.

Major stock indexes fell more than 4 percent.

The Dow is closing with a loss of 513 points, or 4.3 percent, to 11,384. It was the worst day for the Dow since October 22, 2008.

The S&P 500 is down 60, or 4.8 percent, to 1,200. The Nasdaq is down 137, or 5.1 percent, to 2,556.

Twenty stocks fell for every one that rose on the New York Stock Exchange. Volume was very heavy at 7.5 billion shares.

One comment

  1. Predictable. The economy never came out of the recession, for most people; and if the common man/customer has little money, then the economy will do poorly. I suspect that many knew it was coming–but exactly when, is the hard part.

    We need not only higher employment, but higher wages. The rich have been doing great, but they can’t support the economy–or not unless we’re looking for a third-world economy! When the middle and lower classes have a much higher proportion of of the nation’s income, then we have a chance for prosperity.