U.S. stocks tumbled on Tuesday, with both the S&P and Nasdaq settling at their lowest levels in 2010, as downbeat economic news made investors worry that the global economic rebound was weakening.
The Dow Jones industrial average ended 268.22 points lower to 9,908.92, after once tumbling more than 300 points during the session.
The Standard & Poor's 500 index plummeted 33.33 points, or 3.10 percent, to 1,041.24 and the Nasdaq slumped 85.47 points, or 3.85 percent, to 2,135.18. Both indexes were at their lowest closing levels for the year.
Asian and European markets were broadly down, with the Shanghai Composite falling more than 4 percent to the lowest level in 14 months, after the Conference Board, a New York-based research group, revised its leading economic index for China to show the smallest gain in five months in April.
Industrial companies and natural-resource firms were among the hardest hit as investors worried a slowdown in China, one of the main drivers in global economic recovery, will result in the decrease in demand.
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Topic: US Stocks (Read 580 times)