U.S. stocks tumbled the most in a week after slower-than-forecast economic growth, rising jobless claims and Federal Reserve Chairman Ben S. Bernanke’s warning of possible failures among smaller banks deepened concern a recession is inevitable.

The S&P 500 Index declined 12.34 points, or 0.9 percent, to 1,367.68. The Dow Jones Industrial Average fell 112.1, or 0.9 percent, to 12,582.18. The Nasdaq Composite Index lost 22.21, or 0.9 percent, to 2,331.57. Three stocks dropped for every one that rose on the New York Stock Exchange.

(Source: Bloomberg)