(CNBC) Stocks fell on Thursday after the European Central Bank slashed its economic growth forecast for 2019 and announced a new round of stimulus to help banks in the region, stoking worries over the global economy.
The Dow Jones Industrial Average closed 200.23 points lower at 25,473.23 as shares of Caterpillar and Walgreens Boots Alliance lagged. The S&P 500 fell 0.8 percent to 2,748.93, led by declines in the financials and consumer discretionary sectors. The Nasdaq Composite dropped 1.1 percent to 7,421.46. The indexes posted their fourth consecutive loss.
Bank of America, Goldman Sachs, Morgan Stanley and Citigroup all fell around 1 percent. The SPDR S&P Bank ETF (KBE) dropped 1.6 percent.
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