U.S. stocks tumbled in the last half hour of trading after shifting between gains and losses all day, pulled lower by commodity producers as investors speculated a global recession will damp demand for fuel and metals.
The S&P500 Index slipped 27.85 points, or 3.2 percent, to 848.92. The Dow Jones Industrial Average slid 203.18, or 2.4 percent, to 8,175.77. The Nasdaq Composite Index retreated 46.13, or 3 percent, to 1,505.9.
The S&P 500 swung between gains and losses at least 20 times as Huntington Bancshares Inc. led a rally in regional banks that accepted $34 billion in government cash. The benchmark index for U.S. equities is down 42 percent in 2008. More than 1.3 billion shares changed hands on the NYSE, 8 percent below the average volume for the last three months.
(Bloomberg.com)
HASHEM YIRACHEM