((Wikimedia))

Dow experiences worst day of the year

Oil and other commodities fell sharply on concerns about slowing growth in China


Associated Press
April 16, 2013 12:45AM (UTC)

NEW YORK (AP) — The stock market had its worst drop this year as prices for oil and other commodities fell sharply on concerns about slowing growth in China.

Oil fell to a four-month low, dragging down energy stocks. Mining companies sank after gold had its biggest one-day drop since 1983.

Advertisement:

The Dow Jones industrial average fell 265 points to close at 14,599 Monday. The 1.8 percent drop was its worst since November.

Other indexes fell even more.

The Standard & Poor's 500 fell 36 points to 1,552, or 2.3 percent. The Nasdaq fell 78 points, 2.4 percent, to 3,216. The Russell 2000 of small-company stocks plunged 3.8 percent to 907.20.

Seven stocks fell for every one that rose on the New York Stock Exchange. Volume was heavy at 4.6 billion shares.


Associated Press

MORE FROM Associated Press

Related Topics ------------------------------------------

Associated Press Dow Jones Nasdaq New York Stock Exchange Oil

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••






Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •