New York City – Brutal Selloff on Wall Street

New York City – Stocks plummeted on Thursday afternoon, with the Dow clsoing down nearly 350 points as mixed retail sales, lower oil prices and dour labor market readings amplified worries about a global economic slowdown.

The concerns overshadowed a better-than-expected sales report from Wal-Mart Stores and surprisingly strong readings on productivity and the services sector.

The Dow Jones industrial average lost 344 points to close at 11,188 points