(Google Finance)
Stocks are lower for a fourth day on Friday, and are, for a second day, selling off sharply.
Near 1:27 p.m. ET, the Dow was down 311 points, the S&P 500 was down 37 points, and the Nasdaq was down 96 points.
The S&P 500 fell below 2,000 for the first time since February, and all of its sectors were in the red. All 30 stocks on the Dow were lower.
The Chicago Board of Exchange Volatility Index, or Vix, which gauges expectations for future moves in the S&P 500, jumped by more than 20%.
On Thursday, the Dow lost 358 points and fell to its lowest level since February. The S&P 500 closed down 2.11% for its worst one-day decline in 18 months.
Stock markets in Europe and Asia were also in the red again.
The benchmark Shanghai Composite index in China fell more than 4%, and recorded its worst week since June. China's manufacturing PMI fell to a 77-month low at 47.8.
Commodity prices held up on Thursday, however, with gold rallying to a five-week high above $1,150 an ounce.
West Texas Intermediate crude oil futures in New York dropped below $40 per barrel for the first time since 2009. Data from oil driller Baker Hughes showed that the oil rig count rose by 2 this week.
The August flash manufacturing PMI from Markit missed expectations at 52.9, and indicated a slowdown in US manufacturing activity.
In earnings, John Deere reported a year-on-year slide in profits and revenues, and slashed its outlook for the agricultural industry. "Lower commodity prices and falling farm incomes are continuing to pressure demand for agricultural machinery," the company said in its statement.
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