US Stocks Fall On Growing Fears Of Recession

Stocks tumbled amid growing fears of a global recession, as investors confronted a grim mix of U.S. economic data and fresh concerns about Europe's banks. 

The Dow Jones Industrial Average fell 492 points, or 4.3%, to 10918, near the day's lows. The Standard & Poor's 500-stock index dropped 60 points, or 5%, to 1134, while the Nasdaq Composite lost 140 points, or 5.6%, to 2372. 

In the flight to safety, investors piled into gold, which jumped to a new record nearly $1,830 a troy ounce. In the Treasurys market, the yield on the benchmark 10-year note briefly dipped below 2% in intraday trading for the first time since at least 1954, as investors sought refuge in U.S. debt.

Source: Wall St Journal