NEW YORK (CNNMoney.com) -- Stocks got pummeled Thursday, with the Dow, Nasdaq and S&P 500 losing enough to fall into "correction territory" - marked by a drop of more than 10% off the rally highs. Worries that the European debt crisis and slump in the euro might spark a second leg down for the global economy fueled the selling, extending the recent declines.The Dow Jones industrial average (INDU) fell 376 points, or 3.6%, closing just above its lows.The Nasdaq (COMP) fell 94 points, or 4.1% and the S&P 500 (SPX) declined 43 points, or 3.9%.The market had cut losses in the afternoon as the euro gained ground against the dollar, but stocks reversed course and ended just above their lows after the Wall Street reform bill cleared a key hurdle in the Senate that all but assures its passage.
As mentioned, the last month saw a drop of over 900 points. (Chart from CNNmoney.com) This basically erased all of the gains of this year to date. (If I were a squirrel, I'd hide my nuts!)
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