Dow Plunges 520

Nasdaq and S&P 500 plummet, too
By John Johnson,  Newser Staff
Posted Aug 10, 2011 3:06 PM CDT
Trader Peter Tuchman works on the floor of the New York Stock Exchange Wednesday.   (AP Photo/Richard Drew)

(Newser) – Yesterday's big market gains vanished and then some today as investors worried about Europe's debt problems and the weak US recovery, reports MarketWatch.

  • Dow: Down 520 points, or 4.6%, to 10,719
  • S&P 500: Down 52 points, or 4.4%, to 1,121
  • Nasdaq: Down 101 points, or 4%, to 2,381

"Markets are having an extremely difficult time here—volatility is rising and the speed and voracity of these declines is so rapid I don't think anyone can wrap their heads around this," a market strategist at Banyan Partners tells the Wall Street Journal. At one point, gold rose above $1,800 an ounce for the first time as people looked for safe havens, notes AP.

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