Stocks start fourth quarter with a plunge as economic fears resurge

[Liberal_in_LA]

Stocks start fourth quarter with a plunge as economic fears resurge

t’s a new quarter on Wall Street, but not a new mind-set: Nervous investors worldwide kicked off the final three months of the year Monday by dumping stocks and fleeing once again for the classic haven of Treasury bonds, as fears over the global economy resurged.

In a potentially ominous sign, the Standard & Poor’s 500 index closed below the 1,120 mark, which is where it had bounced three times since early August. The S&P sank 32.19 points, or 2.8%, to end at 1,099.23, a new 52-week low.

The Dow industrials slumped 258.08 points, or 2.4%, to 10,655.30, also a 52-week low, after diving 12% in the third quarter.

http://latimesblogs.latimes.com/money_co/2011/10/stocks-fall-wall-street-europe-greece-oil-gold-bond-yields-china.html