Stocks plunged, driving the Dow Jones Industrial Average to close down more than 500 points, as investors appeared to lose faith in the ability of the world's policy makers to revive the global economy and stave off a rolling debt crisis in Europe.
The Dow slid 512.61 points, or 4.3%, to 11383.83, erasing all its gains for 2011. The slump of the past few weeks has driven the Dow down more than 10% from its May intraday highs, putting the index officially in correction territory.
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