Dow Has Rough Day as Recession Fears Rise

Index drops 460
By Newser Editors and Wire Services
Posted Mar 22, 2019 3:46 PM CDT
Traders gather at the post that handles Oaktree Capital Group on the floor of the New York Stock Exchange on March 13.   (AP Photo/Richard Drew, File)

(Newser) – Stocks closed broadly lower on Wall Street Friday, erasing their gains for the week, as investors became increasingly worried that the global economy is slowing down. The S&P 500 fell 54 points, or 1.9%, to 2,800; the Dow Jones Industrial Average lost 460 points, 1.8%, to 25,502; and the Nasdaq fell 196 points, 2.5%, to 7,642. The drop came as traders shifted money into bonds and other low-risk assets, the AP reports. Bond yields fell sharply, hurting bank stocks and flashing a possible recession warning. Citigroup slumped 4.6%, while Boeing fell 2.8% after Indonesia's flag carrier said it would seek to cancel an order of the company's planes. (Read more stock market stories.)

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