U.S. stocks dive on global fears; Dow off 391 pts

 

SAN FRANCISCO (MarketWatch)
U.S. stocks sank Thursday, sending the Dow Jones Industrial Average to its steepest loss in five weeks, as a recent Federal Reserve policy statement, weaker Chinese manufacturing data, and concerns about European banks spurred a broad flight to cash.
The Dow average lost 391.01 points, or 3.5%, to 10,733.83, its biggest loss since Aug. 18.
All 30 Dow stocks ended lower.
The S&P 500 fell 37.20 points, or 3.2%, to 1,129.56.
The resource and energy sectors suffered the most among the index's 10 groups, declining more than 5% each.
The Nasdaq Composite  lost 82.52 points, or 3.3%, to 2,455.67