Markets
Dow closes down 3.5pc amid global market selloff
NEW YORK : US stocks suffered a brutal sell-off Thursday fueled by the Federal Reserve's stark warning about the healt
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NEW YORK: US stocks suffered a brutal sell-off Thursday fueled by the Federal Reserve's stark warning about the health of the US economy.
The Dow Jones Industrial Average was down 390.03 points (3.51 percent) to 10,734.81 at the close.
The broader S&P 500 sank 37.09 points (3.18 percent) to 1,129.67, while the tech-heavy Nasdaq Composite slumped 82.52 points (3.25 percent) to 2,455.67.
The drops were part of a global selloff.
Earlier, stocks in Europe and Asia sank after the Fed warned of "significant downside risks to the economic outlook" in the United States amid high unemployment, slow growth and a depressed housing market.
Copyright AFP (Agence France-Presse), 2011
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