U.S. stock market plunges Friday; Dow Jones industrial average d - WDRB 41 Louisville News

U.S. stock market plunges Friday; Dow Jones industrial average drops 530 points

Posted: Updated:

By BERNARD CONDON and MATTHEW CRAFT
AP Business Writers

NEW YORK (AP) - The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China's slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis.

The Dow Jones industrial average fell to 16,459.75, and ended down 3.1 percent on Friday. The Standard & Poor's 500 index dropped 64.84 points, or 3.2 percent, to 1,970.89. The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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