Weak economic news from China, the U.S. and Spain combined with a slump in oil companies sent stocks sharply lower. The Dow Jones industrial average had its biggest one-day drop since August.
The Dow Jones industrial average lost 228.48 points, or 1.9 percent, to 11,984.61.
The Standard & Poor's 500 lost 24.91, or 1.9 percent, to 1,295.11.
The Nasdaq composite lost 50.70, or 1.8 percent, to 2,701.02.
For the week:
The Dow is down 185.27, or 1.5 percent.
The S&P is down 26.04, or 2 percent.
The Nasdaq is down 83.65, or 3 percent.
For the year to date:
The Dow is up 407.1, or 3.5 percent.
The S&P is up 37.47 or 3 percent.
The Nasdaq is up 48.15, or 1.8 percent.