Economics
U.S. Stocks Tumble as Russell 2000 Enters Correction
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U.S. stocks tumbled, pushing the Russell 2000 Index into a correction, while Treasuries rallied as the Federal Reserve held its course to end bond-buying this month amid growing signs of economic weakness in Europe.
The Standard & Poor’s 500 Index declined 1.3 percent at 4 p.m. in New York to the lowest since Aug. 12. The Russell 2000 dropped 1.5 percent and is 10 percent below its March record. The Dow Jones Transportation Average sank the most since February as airlines retreated after the first reported U.S. case of the Ebola virus. The Stoxx Europe 600 Index lost 0.8 percent. The rate on 10-year Treasury notes sank 10 basis points to 2.39 percent. Brent crude fell to its lowest level in more than two years.