Economy/Business News Alert: U.S. stock markets tumble; Dow Jones industrial average down 4 percent

---------------------------------------- Economy/Business News Alert: U.S. stock markets tumble; Dow Jones industrial average down 4 percent September 22, 2011 2:05:08 PM ---------------------------------------- Mounting evidence that the world economy is slowing down sharply sent global stock markets spiraling down Thursday as investors brushed off the U.S. Federal Reserve's efforts to spur growth and focused instead on the central bank's gloomy outlook. Oil and other commodities tumbled, too, in the face of several signs that economies are shifting into reverse: the Fed's assessment of the U.S. economy is gloomier than a month ago, while figures from Europe hinted that a recession is looming and a Chinese manufacturing survey suggested a sharp slowdown. At 1:57 p.m., the blue-chip Dow Jones industrial average was down about 454.59 points, or 4 percent, while the broader S&P 500 index fell about 44.56 points, or 3.8 percent. The tech-heavy Nasdaq dropped about 99.26 points, or 3.9 percent. http://link.email.washingtonpost.com/r/IKR2QE/TPOZSS/T85MNH/IVPKJA/S9764/MQ/h For more information, visit PostBusiness.com ---------------------------------------- Get The Washington Post app for iPad, iPhone or iPod Touch: http://itunes.com/apps/thewashingtonpost ---------------------------------------- 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