US stocks sink as investors fear a global slowdown

AP News
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Posted: Oct 07, 2014 12:00 PM
US stocks sink as investors fear a global slowdown

NEW YORK (AP) — U.S. stock indexes are falling as concerns mount that global economic growth is slowing.

Industrial production in Germany, Europe's largest economy, dropped the most in five years and the International Monetary Fund trimmed its outlook for global growth this year and next.

The Dow Jones industrial average fell 129 points, or 0.8 percent, to 16,862 as of noon Eastern time Tuesday.

The Standard and Poor's 500 index fell 11 points, or 0.6 percent, to 1,953. The Nasdaq composite fell 27 points, or 0.6 percent, to 4,427.

SodaStream plunged 21 percent after the company said it isn't winning over enough new customers in the U.S. SodaStream reported preliminary results that fell short of Wall Street's expectations.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.38 percent.