Stocks continue to slide over economic concerns
NEW YORK - US equities have fallen broadly for two consecutive sessions amid mounting fears among investors of a possible economic recession.
The Dow Jones Industrial Average erased more than 800 points in its two-day losses. For a second straight day, the S&P 500 dropped to its worst loss in five weeks. The latest wave of selling came after a report showed hiring by US companies slowed more than economists expected last month, with mining and manufacturing particularly weak. That slowdown added to worries that shook markets a day earlier, when a reading on US manufacturing showed the sharpest contraction in a decade.
Adding to the market's uncertainty was a ruling by the World Trade Organization that cleared the United States to impose tariffs on up to $7.5 billion of goods from the European Union to make up for illegal EU subsidies given to plane-maker Airbus. The Trump administration said it would initiate them on Oct 18.
