Dow average plunges 513, worst drop since 2008

The market gets slammed, anxiety grows a day before the July jobs report is set to drop

Topics: Stock Market, U.S. Economy,

Dow average plunges 513, worst drop since 2008Specialist Patrick King, second from right, and others watch President Barack Obama's remarks on a television monitor the floor of the New York Stock Exchange Tuesday, Aug. 2, 2011. The stock market stumbled again Tuesday and is on pace for its longest losing streak in two years.(AP Photo/Richard Drew)(Credit: AP)

The stock market is finishing its worst day since the financial crisis.

The Dow Jones industrial average plunged more than 500 points Thursday. Investors are concerned that the U.S. economy will enter another recession and that Europe’s debt problems are not closed to being solved.

Major stock indexes fell more than 4 percent.

The Dow is closing with a loss of 513 points, or 4.3 percent, to 11,384. It was the worst day for the Dow since October 22, 2008.

The S&P 500 is down 60, or 4.8 percent, to 1,200. The Nasdaq is down 137, or 5.1 percent, to 2,556.

Twenty stocks fell for every one that rose on the New York Stock Exchange. Volume was very heavy at 7.5 billion shares.

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