U.S. stocks sank, with the Standard & Poor’s 500 Index capping its biggest weekly drop in two-and-a-half years, as oil continued to slide and Chinese industrial data raised concern over a global economic slowdown.
The Dow Jones Industrial Average sank 312.04 points, or 1.8%, to 17,284.3. The Dow slid 3.8% in the week, its biggest decline in three years.
The S&P 500 lost 1.6% to 2,002.59 at 4 p.m. in New York, extending losses in the final hour to cap a weekly loss of 3.5%.
Trading in S&P 500 companies was 22% above the 30-day average for this time of the day.
“People are still nervous about the oil price and the European situation is worrisome,” John...