Economic fears gripped Wall Street again on Tuesday as the Dow shed another 268 points and broke below the 10000 level in the wake of crumbling U.S. consumer confidence figures and fresh signs China’s economic recovery could derail.

The Dow Jones Industrial Average fell 268.22 points, or 2.65%, to 9870.30, the Standard & Poor’s 500 sank 33.33 points, or 3.10%, to 1041.24 and the Nasdaq Composite lost 85.47 points, or 3.85%, to 2135.18. The FOX 50 dropped 22.64 points, or 2.89%, to 761.73. 

Wall Street had already been stuck in a weeklong slump, but the latest headlines only reinforced worries that the global economy could suffer a double-dip recession: consumer confidence unexpectedly plunged in June, a leading economic index in China was sharply revised lower and the turbulent euro broke below the $1.22 level.

(Source: Fox Business)