Friday, January 24, 2014

Fear of slowing growth pushes down global markets


(AP) Fear is back in the market.

Investors are worried about slower economic growth in China, a gloomier outlook for U.S. corporate profits and an end to easy money policies in the United States and Europe. They're also fretting over country-specific troubles around the world - from economic mismanagement in Argentina to political instability in Turkey.

Those fears converged to start a two-day rout in global markets this week, capped by a 318-point drop in the Dow Jones industrial average Friday. It was the blue-chip index's worst day since last June. The Dow plunged almost 500 points over the two-day stretch.

The Dow finished down 2 percent at 15,879 Friday.The Standard & Poor's 500 index fell 38 points, or 2.1 percent, to 1,790. The Nasdaq composite fell 90 points, or 2.2 percent, to 4,128.

Read full article here.

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