Stocks Have Worst Quarter Since '09

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New York Stock Exchange

Just how bad have the last couple months been for the stock market? U.S. indexes ended their worst quarter since 2009 on Friday, with the Dow closing down 12 percent from where it was three months ago. Worries over the European debt crisis, the flagging U.S. recovery, and the slowing of China's economy drove markets relentlessly lower this quarter. Financial stocks were the hardest hit, with many banks falling 25 percent or more. But the decline in U.S. stocks pales alongside that of London's FTSE, which suffered its biggest quarterly fall in nine years, closing down 13.7 percent.