Stocks drop as fears of an economic slowdown persist

Stocks dropped sharply Friday as jitters over the global economy were sparked by dreadful manufacturing data out of Europe and the Federal Reserve's cautious outlook on the U.S. economy.

The Dow fell more than 350 points as Nike and Boeing underperformed. The S&P 500 fell 1.6 percent, led by declines in the energy and financials sectors, as the broad index headed for its worst day since Jan. 3. The Nasdaq slumped 2.1 percent.

"There's a host of worries out there and those worries continue to mount," said Peter Cardillo, a chief market economist at Spartan Capital Securities. "The fear of recession is increasing."

"As a result, we have a market that is rethinking some of the optimism that was priced in."

https://www.msn.com/en-us/money/markets/stocks-drop-as-fears-of-an-economic-slowdown-persist/ar-BBV5g27?li=BBnbfcN

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