A three-day stock rally ended much like it began, with a steep and sudden turn. Stocks started higher early Thursday but turned lower within 20 minutes. Indexes in the U.S. and Europe sank after Germany's main stock index suddenly dipped 4 percent. Traders were at a loss to explain the move. Bank of America Corp. led other banks higher on news that billionaire investor Warren Buffett will invest $5 billion in the bank.
The Dow fell 170.89 points, or 1.5 percent, to close at 11,149.82.
The S&P 500 index fell 18.33 points, or 1.6 percent, to 1,159.27.
The Nasdaq fell 48.06 points, or 1.9 percent, to 2,419.63.
For the week:
The Dow is up 332.17, or 3.1 percent
The S&P 500 is up 35.74, or 3.2 percent
The Nasdaq is up 77.79, or 3.3 percent
For the year to date:
The Dow is down 427.69, or 3.7 percent.
The S&P 500 is down 98.37, or 7.8 percent.
The Nasdaq is down 233.24, or 8.8 percent.