The slump is the worst since June and comes on the 25th anniversary of the 1987 crash. McDonald's and GE say the global economy is struggling. Microsoft, Google and Chipotle slide. Apple drops under $610. Oil and gold drop.
Investors dump stocks after Spain says its recession won't end until at least 2013. Chipotle Mexican Grill shares fall more than 20% on slower sales growth; restaurant shares are slammed. General Electric and Google earnings cheer.
Oil moves higher as Iran threatens again to block the Strait of Hormuz. Sears shares fall 27% on news it will close 100 to 120 stores because of poor sales. Consumer confidence rises. Stocks are ending 2011 about flat.
But US stocks rebound from early lows after Moody's says last week's eurozone summit solved nothing. Intel cuts its revenue outlook. Gold drops below $1,700. The Fed meets Tuesday.
The blues chips have their best close since June 2008. Gold's finish is a record, and silver jumps above $46. General Electric, Verizon and McDonald's results don't impress. Biogen Idec says a multiple-sclerosis drug has promise.
It's a monster week for earnings, with Apple, Intel, Citigroup, Wells Fargo, Chipotle Grill and Goldman Sachs among companies set to report. Data on leading indicators and existing-home sales also are due.
Shares of General Electric slip amid Japan's nuclear energy crisis, while alternative-energy stocks get a boost.
The Dow climbs 26 as the big holiday rally rolls on. Topping $90, oil hits a 2-year high. Walgreen and Bed Bath & Beyond earnings impress. Existing-home sales beat estimates.
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The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
A new survey reveals Americans are most embarrassed to admit their amount of credit card debt.
In a tax case, a US judge ruled that the agency's published guidelines don't hold up in court.
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