Stocks slumped on Wall Street after another turbulent day of trading.
The S&P 500 fell 0.6 percent Thursday after erasing a morning gain. The Dow Jones Industrial Average dropped 0.7 percent, and the Nasdaq composite sank 0.5 percent.
Bank stocks led the way lower on worries about loans they’ve made. Zions Bancorp. tumbled after saying it’s charging off $50 million in loans. Western Alliance Bancorp dropped after saying it has sued a borrower, alleging fraud. The question is whether these issues are one-offs or a symptom of something larger threatening the banking industry.
The 10-year Treasury yield fell below 4 percent and the price of gold rose 2.5 percent.
On Thursday:
The S&P 500 fell 41.99 points, or 0.6 percent, to 6,629.07.
The Dow Jones Industrial Average fell 301.07 points, or 0.7 percent, to 45,952.24.
The Nasdaq composite fell 107.54 points, or 0.5 percent, to 22,562.54.
The Russell 2000 index of smaller companies fell 52.74 points, or 2.1 percent, to 2,467.01.
For the week:
The S&P 500 is up 76.56 points, or 1.2 percent.
The Dow is up 472.64 points, or 1 percent.
The Nasdaq is up 358.11 points, or 1.6 percent.
The Russell 2000 is up 72.42 points, or 3 percent.
For the year:
The S&P 500 is up 747.44 points, or 12.7 percent.
The Dow is up 3,408.02 points, or 8 percent.
The Nasdaq is up 3,251.74 points, or 16.8 percent.
The Russell 2000 is up 236.86 points, or 10.6 percent.
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