Here we go again: Stocks plunge on economic fear

NEW YORK — Stocks have plunged after more signs of economic weakness triggered a global sell-off.

The Dow Jones industrial average is down 419 points, or 3.7 percent, to 10,991. The S&P 500 is down 53, or 4.5 percent, to 1,141. The Nasdaq composite is down 131, or 5.2 percent, to 2,380.

In the United States, there were reports that more people joined the unemployment line last week than a week earlier. Gasoline prices contributed to higher inflation. And manufacturing slowed in the mid-Atlantic. Investors also worried about debt problems in Europe, where bank stocks fell on worries about their access to funding.

The yield on the 10-year Treasury note briefly fell to a record low. And gold rose to a record high as investors moved into investments considered safer.