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Dow Drops Almost 300 Points on Global Slowdown Worries

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U.S. stocks fell sharply on Tuesday, extending losses into a second session, as investors fretted about slowing economic growth in Europe and pondered the impact on coming third-quarter earnings from U.S. corporations.

"It's heightened concern about the slowdown in global growth, highlighted by the IMF forecast this morning, and whether earnings will keep growing," said Kate Warne, investment strategist at Edward Jones. The International Monetary Fund downgraded its global growth forecast for this year and 2015, with the organization that represents 188 countries now projecting world growth to come in at 3.3 percent in 2014, down 0.1 percent from its July forecast. Next year, it expects growth of 3.8 percent. All major U.S. stocks indexes -- the Dow industrials, the S&P 500 and the Nasdaq -- dropped more than 1 percent.

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-- Kate Gibson, CNBC

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