Stocks fell sharply on Friday as investors worried about slowing growth in China, plunging emerging-market currencies like the Argentine peso and the profit outlook for U.S. companies.
Selling accelerated as the day went on, and the Dow Jones industrial average closed at its lowest point of the day. The Dow's drop of 318 points was its worst since last June. Bond prices rose as investors shifted money into assets seen as less risky.
The Dow Jones industrial average fell 318.24 points, or 2 percent, to close at 15,879.11.
The Standard & Poor's 500 index fell 38.17 points, or 2.1 percent, to 1,790.29.
The Nasdaq composite fell 90.70 points, or 2.2 percent, to 4,128.17.
For the week:
The Dow is down 579.45 points, or 3.5 percent.
The S&P 500 is down 48.41 points, or 2.6 percent.
The Nasdaq is down 69.41 points, or 1.7 percent.
For the year so far:
The Dow is down 697.55 points, or 4.2 percent.
The S&P 500 is down 58.07 points, or 3.1 percent.
The Nasdaq is down 48.42 points, or 1.2 percent.