U.S. stocks plunged today amid fears of a global banking crisis, combined with a weak economic report. The Dow Jones closed down nearly 420 points to end the day at 10,990, a 3.7% decline. The Nasdaq lost 131 points, or 5.2%, and the S&P 500 fell 53 points, or 4.5%. Banking giant Morgan Stanley warned the global economy was “dangerously close to a recession” and revised its 2011 global growth forecast down to 3.9% from 4.2% and its 2012 forecast to 3.8% from 4.5%.
Dow down as global markets plunge
Sign up for the free Daily Report email – local news about the people, companies and issues that impact business impact business in Baton Rouge and beyond.
