U.S. stocks end second-worst session of the year
NEW YORK (MarketWatch) -- U.S. stocks fell sharply Thursday, with equities taking their second-hardest hit of the year after U.S. economic data largely disappointed, increasing worry about a global slowdown. Other economic reports had euro-area manufacturing slowing and a gauge of Chinese output also contracting. "We're entering summer, in politics this used to be called the 'silly season,' but I don't think there is a lot of focus on economic fundamentals right now. Some of the economic data is a little on the weak side, but to me the most important thing is the U.S. economy is not very vulnerable to recession right now," said David Kelly, chief market strategist at J.P. Morgan Funds. The Dow Jones Industrial Average fell 250.82 points, or 2%, to 12,573.57. The S&P 500 lost 30.18 points, or 2.2%, to 1,325.51. The Nasdaq Composite retreated 71.36 points, or 2.4%, to 2,859.09.