Financial Markets Tank On Global Economic Worries

BERLIN — Markets plummeted worldwide Thursday as the global economic outlook appeared increasingly shaky, with investors fearing for the fate of European banks and Chinese growth and reacting to a dour outlook on the U.S. economy from the Federal Reserve.

The Dow Jones industrial average had plunged about 400 points, or more than 3.5 percent, by midday Thursday, after the Federal Reserve said Wednesday that it sees “significant downside risks” to the economy. The Standard & Poor’s 500 index had dropped3.3 percent.

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