(CNBC) Stocks dropped on Friday as investors worried global economic growth could slow down following the Federal Reserve’s cautious outlook from earlier in the week.
The Dow Jones Industrial Average traded 310 points lower as bank stocks fell on an inverted yield curve, which some investors see as a signal of a recession coming. The S&P 500 fell 1.3 percent and headed for its worst day since Jan. 22. The Nasdaq Composite declined 1.9 percent.
“There’s a host of worries out there and those worries continue to mount,” said Peter Cardillo, chief market economist at Spartan Capital Securities. “The fear of recession is increasing.”
