U.S. stock market dives as Europe offers sell signal

U.S. stock market dives as Europe offers sell signal

NEW YORK (MarketWatch) — U.S. stocks caved on Thursday, with the Dow industrials making a comeback of sorts from a drop of nearly 1,000 points, as Europe’s financial troubles took hold on Wall Street.

At its height, the major stock indexes were all down 8%, with the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (INDU 10,520, -347.87, -3.20%) diving almost 1,000 points before halting its decline.

Yields on 10-year treasury notes dropped the most since September 2008 and the euro fell to a new 14-month low, below $1.26.

“The markets have an eerie feeling similar to the timeframe when Lehman went down,” said Andrew Brenner, head of emerging markets at Guggenheim Securities…

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