[b]Red on Wall Street
NEW YORK (CNNMoney.com) -- Stocks tumbled Wednesday afternoon as recession fears resurfaced following a weaker-than-expected retail sales report and dour comments on the economy from Ben Bernanke and another Federal Reserve official.
The credit market showed some signs of easing, as a key overnight bank lending rate fell. But the improvement was slowgoing and failed to reassure investors. Global markets were mostly lower.
The Dow Jones industrial average (INDU) fell as much as 515 points before pulling back a bit. The decline was equal to around 6.4%. The Standard & Poor's 500 (SPX) index lost 5.8% and the Nasdaq composite (COMP) lost 5.5%.
read more: www.cnn.com
