US stocks slid more than 1 percent on Thursday and the S&P 500 fell through a key technical level amid global economic worries, suggesting more losses may be on the way. Nearly seven stocks fell for every one that rose on both the New York Stock Exchange and the Nasdaq, in an indicator of the depth of the negative sentiment driving the sell-off.
A ratings agency's downgrade of Spain, an unexpected swing to a trade deficit in China and jobless and other data the United States heightened global growth worries. The benchmark S&P 500 index fell below its 50-day moving average, an indication of medium-term momentum for the market, for the first time since November.
The Dow Jones industrial average was down 175.16 points, or 1.43 percent, at 12,037.93. The Standard & Poor's 500 Index was down 19.31 points, or 1.46 percent, at 1,300.71. The Nasdaq Composite Index was down 43.06 points, or 1.57 percent, at 2,708.66. An index of semiconductors, among the market's weaker areas this week, lost 1.6 percent.
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