Wall Street plunges on recovery worries
Stocks tumbled on Thursday, pushing the benchmark S&P 500 down 2 percent, as signs of more job market weakness and an anemic Fed regional survey fueled fears that the economic recovery might not happen quick enough.
The latest data presented a major headwind for stock investors who had been looking for fresh catalysts to underpin the stock market's recent rebound from the 12-year lows of early March.
Shares of big manufacturers, energy and technology companies were among the top drags. IBM
Boeing
The Dow Jones industrial average <.DJI> dropped 163.84 points, or 1.95 percent, to 8,258.20. The Standard & Poor's 500 Index <.SPX> dropped 19.28 points, or 2.13 percent, to 884.19. The Nasdaq Composite Index <.IXIC> dropped 40.98 points, or 2.37 percent, to 1,686.86.
© Copyright Thomson Reuters 2024. All rights reserved.