Economy/Business News Alert: S&P 500 tumbles more than five percent on fears about U.S., European economies

---------------------------------------- Economy/Business News Alert: S&P 500 tumbles more than five percent on fears about U.S., European economies August 18, 2011 3:11:40 PM ---------------------------------------- Mounting concerns about global economic growth sent the U.S. stock market plunging Thursday with the S&P 500 index off more than five percent during afternoon trading, following a broad sell-off on European and Asian markets. Stocks were down sharply on discouraging economic news, including poor reports on weekly jobless claims and consumer inflation, as well as on mounting fears that Europe's debt crisis could be imperiling some of the continent's leading banks. http://link.email.washingtonpost.com/r/MEPMRJ/M91L0Z/K3O6YR/H0T4T0/L4TZ4/SN/h For more information, visit PostBusiness.com ---------------------------------------- Get a unique daily review and analysis of the debt, deficit and economy debate. Sign up for Behind the Government Showdown: http://www.washingtonpost.com/ac2/wp-dyn?node=admin/email/express&action=subscribe&newsletter_code=GVTSHTDN ---------------------------------------- Get breaking news alerts sent to your mobile phone. Sign up by texting NEWS to 98999. To unsubscribe, click here ---------------------------------------- ©2011 The Washington Post Company Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, DC 20071