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A trader at the New York Stock Exchange in New York. The Dow Jones Industrial average ended up closing down approximately 420 points. The Dow Jones Industrial Average closed down 419.63 points (3.68 percent) to 10,990.58, following an earlier rout on Europe's bourses. The broader S&P 500 sank 53.23 points (4.46 percent) to 1,140.65, while the tech-heavy Nasdaq Composite was hit harder by selling, tumbling 131.05 (5.22 percent) to 2,380.43. The spark to the new fall was a Morgan Stanley report warning that global growth was slowing and that the United States and Europe were on the precipice of plunging into a new recession, two years after the end of the last one.
August 18, 2011