Dow Crashes Below 12000

    Specialists Evan Solomon works on the floor of the New York Stock Exchange Wednesday, June 1, 2011. Fears that the economy is stalling sent the Dow Jones industrial average down 280 points, erasing more than a quarter of the stock market's gains for the year. (AP Photo/Richard Drew)

    Richard Drew / AP Photo

    A steep downturn in the stock market Friday capped a sixth straight week of losses, marking a 1.4-percent decline and sending the Dow below 12000 for the first time since mid-March. The latest slide is the longest since 2002, and follows a series of negative economic reports in recent weeks, particularly in the job sector. Investors say they’re worried that the slump might last longer than predicted.  "There's a growing idea that perhaps this slowdown is not as temporary as it looks," said John Brady, senior vice president at MF Global. Energy and financial stocks saw serious declines.

    Read it at Wall Street Journal