BIG DROP: The Dow Jones industrial average had its biggest drop since August 11 on a combination of weaker Chinese demand, a downgrade of Spanish debt, and a rise in unemployment applications in the U.S.
OIL STILL HIGH: Oil prices fell to $102 a barrel, continuing a three-week run of high prices that has economists worried that higher transportation costs could undermine the economic recovery.
THE INDEXES: The Dow lost 228.48 points to 11,984.61. The S&P 500 lost 24.91 to 1,295.11. The Nasdaq composite lost 50.70 to 2,701.02.