Stocks tumbled Friday amid escalating worries about the financial
and automotive sectors and rebounding oil prices. The major indexes
fell by more than 1 1/2 percent, and the Dow Jones industrial average
ended at under 12,000 for the first time since mid-March. A downgrade
of automakers helped draw sellers into the stock market.
The Dow Jones industrial average fell 220.40, or 1.83 percent, to 11,842.69.
The Standard & Poor's 500 index fell 24.90, or 1.85 percent, to 1,317.93.
The Nasdaq composite index fell 55.97, or 2.27 percent, to 2,406.09.
For the week:
The Dow is down 464.66, or 3.78 percent.
The S&P is down 42.10, or 3.10 percent.
The Nasdaq is down 48.41, or 1.97 percent.
For the year:
The Dow is down 1,422.13, or 10.72 percent.
The S&P is down 150.43, or 10.24 percent.
The Nasdaq is down 246.19, or 9.28 percent.
