Gripped by fear of another recession, the financial markets suffered their worst day Thursday since the crisis of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline ever. The sell-off wiped out the Dow's gains for 2011. It put the Dow and broader stock indexes into what investors call a correction _ down 10 percent from the highs of this spring.
The Dow Jones industrial average fell 512.76 points, or 4.3 percent, to close at 11,383.68.
The Standard and Poor's 500 index fell 60.27 points, or 4.8 percent, to 1,200.07.
The Nasdaq composite fell 136.68, or 5.1 percent, to 2,556.39.
For the week to date:
The Dow is down 759.56, or 6.3 percent.
The S&P is down 92.21, or 7.1 percent.
The Nasdaq is down 199.99, or 7.3 percent.
For the year to date:
The Dow is down 193.83, or 1.7 percent.
The S&P is down 57.57, or 4.6 percent.
The Nasdaq is down 96.48, or 3.6 percent.