Wall Street focused Wednesday on the bleak landscape ahead for the economy and sold off, wiping out the big gains from a day earlier and then some. The selling was intensified by worries about debt problems in Europe.
The Dow Jones industrial average fell 519.83 points, or 4.6 percent, to 10,719.94.
The Standard & Poor's 500 index fell 51.77, or 4.4 percent, to 1,120.76.
The Nasdaq composite fell 101.47, or 4.1 percent, to 2,381.05.
For the week to date:
The Dow is down 724.67, or 6.3 percent.
The S&P is down 78.62, or 6.6 percent.
The Nasdaq is down 151.36, or 6 percent.
For the year to date:
The Dow is down 857.57, or 7.4 percent.
The S&P is down 136.88, or 10.9 percent.
The Nasdaq is down 271.82,or 10.2 percent.