Stocks are falling at the close of trading as investors' attention returns to the weak economy and Europe's debt problems.
The Dow Jones industrial average is down 519, or 4.6 percent, to 10,720. It's the third time in the last five trading days that the Dow lost more than 500 points. The S&P 500 is down 51 points, or 4.4 percent, to 1,121. The Nasdaq is down 101, or 4.1 percent, to 2,381.
European bank stocks fell on worries that the region's debt problems are getting worse. That pulled down U.S. bank stocks. Financial stocks in the S&P 500 lost more than 7 percent.
The drop erases Tuesday's big gain following a Federal Reserve pledge to keep rates low. The Fed said it expects the recovery to remain slow.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.