Dow falls 200 points as energy, mining stocks drop

AP News
Posted: Apr 15, 2013 3:13 PM

NEW YORK (AP) — Signs of slowing growth in China led to a steep fall in commodities prices and a sell-off in the stock market.

Energy and mining stocks had the sharpest declines.

The Dow Jones industrial average dropped more than 200 points, its worst one-day loss since February.

Gold plunged below $1,400 an ounce for the first time in two years as a sell-off in metals continued from last week. Oil prices hit their lowest level since mid-December.

The Dow was down 215 points at 14,648, a drop of 1.4 percent.

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Other indexes fell even more. The Standard & Poor's 500 slumped 30 points, 1.9 percent, to 1,559. The Nasdaq fell 72 points, or 2.2 percent, to 3,222.

Basic materials and energy stocks fell the most in the S&P, led by Cliffs Natural.