Stocks tumbled on Wall Street and across European markets Thursday as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control.
The S&P 500 fell 2.5 percent, with more than 90 percent of stocks in the benchmark index closing in the red. The Dow Jones Industrial Average fell 2.2 percent and the Nasdaq composite lost 3.2 percent. The broad slide erased all the weekly gains for the major indexes.
