Stocks tumbled Thursday after a bigger-than-expected rise in weekly jobless claims and a weaker-than-expected reading on manufacturing sparked worries about the pace of the economic recovery.
The Dow Jones industrial average (INDU) fell 141 points, or 1.5%, more than 90 minutes into the session. The S&P 500 (SPX) index lost 19 points, or 1.8%. The Nasdaq composite (COMP) shed 47 points, or 2.2%.
Stocks slipped Wednesday at the end of an otherwise strong third quarter, in which the major gauges all gained around 15%. The selloff continued Thursday as investors sorted through a heavy batch of economic news.
A recent spate of weaker-than-consensus economic reports have raised concerns about the strength of the economic recovery, sending stocks lower. That trend continued Thursday.
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