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The stock market suffered its worst setback in more than 10 months as investors rejected President Barack Obama’s plans to restrict big banks and earnings reports that just weren’t good enough. The Dow Jones industrial average had its fourth big drop in five trading days Friday. Over the past three days, the Dow lost 552 points, or 5.2 percent, and over the past five days, it fell 537 points, after gaining 115 points on Tuesday. It was the worst showing for the market since it began its recovery last March.
The Dow Jones industrial average fell 216.90, or 2.1 percent, to 10,172.98.
The Standard & Poor’s 500 index fell 24.72, or 2.2 percent, to 1,091.76.
The Nasdaq composite index fell 60.41, or 2.7 percent, to 2,205.29.
For the week:
The Dow is down 436.67, or 4.1 percent.
The S&P is down 44.27, or 3.9 percent.
The Nasdaq is down 82.70, or 3.6 percent.
For the year:
The Dow is down 255.07, or 2.4 percent.
The S&P is down 23.34, or 2.1 percent.
The Nasdaq is down 63.86, or 2.8 percent.