Dow has worst day this year as commodities plunge

3:18 PM, Apr 15, 2013   |    comments
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NEW YORK (AP) - The stock market had its worst drop this year as prices for oil and other commodities fell sharply on concerns about slowing growth in China.

Oil fell to a four-month low, dragging down energy stocks. Mining companies sank after gold had its biggest one-day drop since 1983.

The Dow Jones industrial average fell 265 points to close at 14,599 Monday. The 1.8 percent drop was its worst since November.

Other indexes fell even more.

The Standard & Poor's 500 fell 36 points to 1,552, or 2.3 percent. The Nasdaq fell 78 points, 2.4 percent, to 3,216. The Russell 2000 of small-company stocks plunged 3.8 percent to 907.20.

Seven stocks fell for every one that rose on the New York Stock Exchange. Volume was heavy at 4.6 billion shares.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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