Stocks sank Wednesday as worries about Europe dragged down financial markets. Energy companies fell hard as the price of crude oil plunged 5 percent. Gold fell below $1,600 for the first time in more than two months.
Italy's borrowing rates ratcheted higher and the euro slid below $1.30 for the first time since January, two signs that the debt crisis continues to pressure Europe's governments. The euro has lost more than 3 percent in three days.
The Dow Jones industrial average fell 131.46 points, or 1.1 percent, to close at 11,823.48.
The Standard & Poor's 500 index fell 13.91 points, or 1.1 percent, to 1,211.82.
The Nasdaq fell 39.96, or 1.6 percent to 2,539.31.
For the week:
The Dow is down 360.78 points, or 3 percent.
The S&P is down 43.37, or 3.5 percent.
The Nasdaq is down 107.54, or 4.1 percent.
For the year to date:
The Dow is up 245.97 points, or 2.1 percent.
The S&P is down 45.82, or 3.6 percent.
The Nasdaq is down 113.56, or 4.3 percent.
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