Watch CBS News

Dow Plunges More Than 450 Points; Nasdaq Losses Reach 'Correction' Level

NEW YORK (CBS SF) -- U.S. stocks tumbled across indexes Wednesday as fears of a global economic slowdown intensified, with the Dow Jones industrial average in its fourth day of consecutive losses - plunging more than 450 points.

The Nasdaq composite dropped more than 100 points and was nearing the point which could be considered a market correction.  Bay Area Nasdaq tech stocks such as Apple (AAPL), Cisco (CSCO), Google (GOOG), Intel (INTC), and Yahoo (YHOO) each saw losses. NYSE-traded Wells Fargo (WFC), based in San Francisco was down over 2.9%.

All sectors in the Standard & Poors 500 fell Wednesday, also near the benchmark of a correction. In afternoon trading, the Dow, Nasdaq and S&P 500 were off their intraday lows.

Stocks have been on the decline for weeks as investor concern grows over the growth of economies in Europe and Asia.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.