Wells Fargo

Stocks plunge to 8-month lows on growth fears; J&J nosedives

Stocks plunge to 8-month lows on growth fears; J&J nosedives

Stocks staggered to eight-month lows Friday after weak economic data from China and Europe set off more worries about the global economy. Mounting tensions in Europe over Britain's impending departure from the European Union also darkened traders' moods.

Major U.S. indexes fell about 2 percent and the Dow Jones Industrial Average dropped as much as 563 points. On the benchmark S&P 500 index, health care and technology companies absorbed the worst losses.

Johnson & Johnson plunged by the most in 16 years after Reuters reported that the company has known since the 1970s that its talc Baby Powder sometimes contained carcinogenic asbestos. The company denied the...

44°