Stocks closed sharply lower after investors sold stocks with abandon, convinced that the U.S. and the world are headed for a new recession.
The Dow Jones industrial average lost 391.01 points, or 3.5 percent, to close at 10,733.83.
The Standard & Poor's 500-stock index fell 37.18, or 3.2 percent, to 1,129.58.
The Nasdaq composite fell 82.52, or 3.3 percent, to 2,455.67.
For the week to date:
The Dow is down 775.26, or 6.7 percent.
The S&P 500 is down 86.45, or 7.1 percent.
The Nasdaq is down 166.64 or 6.4 percent.
For the year to date:
The Dow is down 843.68, or 7.3 percent.
The S&P 500 is down 128.08, or 10.2 percent.
The Nasdaq is down 197.2, or 7.4 percent.