Dow falls 512 in steepest decline since '08 crisis

Worst day for Wall Street since 2008 crisis: Dow falls 512 and investors flee for safety

David K. Randall, AP Business Writer, On Thursday August 4, 2011, 8:15 pm

NEW YORK (AP) -- Gripped by fear of a new recession, the stock market suffered its worst day Thursday since the financial crisis in the fall of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline.

The sell-off wiped out the Dow's remaining gains for 2011. It put the Dow and broader stock indexes into what investors call a correction -- down 10 percent from their highs in the spring.

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