Monday, November 21, 2011

Stocks End Sharply Lower Amid Debt Fears

Stocks End Sharply Lower Amid Debt Fears
Published: Monday, 21 Nov 2011 | 4:05 PM ET Text Size
By: Jeff Cox Senior Writer

Worries over debt in both the U.S. and Europe overcame Wall Street on Monday, sending stocks into a tailspin as investors flocked for the exits ahead of the Thanksgiving holiday.

Though considerably off the worst levels of the day, the selloff was still good enough to take 2 percent off the Dow industrials and nearly as much from the Standard & Poor's 500 and the Nasdaq.

Financials and industrials were the big losers of the day, with traders worried that mandated spending cuts that come with the failure of the congressional debt supercommittee to reach a deal will eradicate the nascent economic recovery.

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