BBC: Wall Street plunged more than 5% on Wednesday to its lowest level in over five years on rising economic worries.
The Dow Jones average fell 427 points to close at 7,997.28, below the 8,000-level for the first time since 2003.
A record fall in October consumer prices and uncertainty over a possible rescue for US carmakers reinforced fears of slowdown.
Adding to the gloom, the Federal Reserve slashed its economic growth forecasts for 2009.
"It's certainly the Fed confirming what the market has realized - that the recession is here," said Bruce Zaro, of Delta Global Advisors in Boston. >>> | Novemebr 19, 2008
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