- The Dow Jones Industrial Average DJIA, -1.77% fell around 460 points, or 1.8%, to end near 25,503.
- The S&P 500 SPX, -1.90% fell 1.9% to close near 2,801.
- The Nasdaq Composite COMP, -2.50% dropped 2.5% to end near 7,643.
Following a weak start on the session, taking its cues from negative performance in European markets as the purchasing-managers-index readings across Europe came in weaker than expected, US stocks extended their declines into the close.
Concerns over global growth sent investors into bonds which took the 10-year Treasury note below the yield on the 3-month T-bill, (a bearish diversion), indicating to markets that a U.S. recession could be on the cards as soon as 2020, stoking fears of a global slowdown.
The DJIA has been unable to sustain territory above the 26000 level having scored a high of 26109 on Tuesday. A continuation to the downside will open a move to the 23.6% retracement of the late Dec swing lows to late Feb swing highs at the low end of the twenty-five hundreds which guards a break all the way down to the 38.2% fibo of the same range around 24400.