The World

Market slump reflects fears of double-dip recession

U.S. markets are opening this morning after their worst day in almost three years. Louise Story, Wall Street and finance reporter for our partner, The New York Times, explains why the market plunge occurred.

U.S. markets are opening this morning after their worst day in almost three years. The Dow Jones index of thirty blue-chip stocks closed more than 500 points down, or 4.3 percent, the biggest one-day fall since late 2008. Indexes including the S&P 500 also plunged yesterday.  The news reflects fears of a slowdown in global growth, concerns about Europe’s debt crisis, and the prospect of a double dip recession. Louise Story, Wall Street and finance reporter for our partner,  The New York Times, explains why the market plunge occurred.