Stocks: Worst day since 2008 financial crisis
Stocks plunged Thursday in their single worst day since the 2008 financial crisis.
The Dow tumbled 512 points — its ninth deepest point drop ever — as fear about the global economy spooked investors.
"The conventional wisdom on Wall Street was that the economy was growing — that the worst was behind us," said Peter Schiff, president of Euro Pacific Capital. "Now what people are realizing is the stimulus didn't work, and we may be headed back to recession." (emphasis added)