Stocks Close With Sharp Losses; Dow Falls 3.6%, S.&P. 500 Down 3.9%
Stocks on Wall Street fell sharply on Thursday as uncertainty over Europe and financial regulation continued to weigh on the market and disappointing new economic data dampened optimism about recovery.
The Dow Jones industrial average fell 376.36 points, or 3.6 percent, in preliminary figures, and broader indexes fell farther, with the S. & P. 500 losing about 3.9 percent and the Nasdaq composite 4.1 percent for the day.
Companies that rely on business in overseas markets took a hit, as industrial, materials, energy and financial stocks were among the sectors that traded lower on Wall Street. Crude oil prices fell, as did those of industrial metals like copper. The yield on the 10-year treasury note fell to its lowest level this year, 3.21 percent.
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