Headlines crossing the wires late on Thursday sent stocks tumbling into the close. The Dow fell 199 points to 11,998. The S&P 500 dropped 26.7 points, or 2.1%, to end the day at 1,234.4.
The European Central Bank agreed to decrease its key lending rate to 1%, but did not come up with other big policy changes — in particular more aggressive bond-buying — that investors had been desiring. And reports indicated that Germany was rejecting certain proposals generated during meetings of world leaders in Brussels.
Markets had appeared poised to rise early in the day after weekly U.S. jobless claims fell to 381,000, their best level since February.
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