US stocks are closing lower as traders worry again about slowing global growth. The Dow Jones industrial average lost 78 points, or 0.5%, to 16,201 today. It had been down 263 points earlier. The Standard & Poor's 500 index fell six points, or 0.3%, to 1,932. The Nasdaq composite declined 18 points, or 0.4%, to 4,734.
Heavy equipment maker Caterpillar plunged 6% after lowering its revenue forecast and announcing a restructuring. Joy Global, a maker of mining equipment, slipped 1%. Falling prices for copper and other basic materials have hurt those companies. Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.13%.