Wall Street continued its downward slide, with stocks piling on losses late in the session, it lost more than 500 points and all the major indexes slid more than 5 percent. This brought the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector. The Standard & Poor's 500 index saw its first close below 1,000 in five years.
The magnitude of the stock market's plunge is reflected in the Dow's grim stats:
- Tuesday's close was its lowest close in five years, since Sept. 30, 2003.
- In just five trading days this month, and in the fourth quarter, it is down about 1,400 points, or 13 percent.
- It has fallen 33.3 percent since its record close of 14,164.53, a year ago Thursday.
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