Summary Box: Dow tumbles more than 500 points

AP News
Posted: Aug 04, 2011 6:20 PM
Summary Box: Dow tumbles more than 500 points

THE PLUNGE: The Dow Jones industrial average plunged 513 points, its biggest drop since December 2008. Investors are cutting back their exposure to risk as evidence piles up that the U.S. economy is slowing down and that European leaders may be unable to contain that region's debt crisis.

MARKET CORRECTION: With Thursday's losses all three major U.S. stock indexes _ the Dow, the S&P 500, and the Nasdaq composite _ are down at least 10 percent from their highs in late July. That's what market watchers call a correction.

INDEXES: The Dow fell 4.3 percent to 11,384. The S&P 500 fell 4.8 percent to 1,200. The Nasdaq fell 5.1 percent to 2,556.