From the SMW archive. Originally published March 6, 2012. This article is preserved as a historical record — facts, figures, and market context reflect 2012.

Stocks Tumble on Global Growth Worries

By Ed Liston · March 6, 2012

Stocks fell sharply in trading today as worries about global economic growth weighed down investors’ sentiment. The concerns were raised on Monday after China cut its annual growth target for the first time in eight years. Meanwhile, economic data from the euro zone indicates that the region is headed into a deep recession.

Investors are also concerned about Greece’s debt swap with private creditors. Amid the global worries, all three major indexes ended sharply lower. The Dow Jones ended the day 1.57% lower at 12,759.15, the S&P 500 ended the day 1.54% lower at 1,343.36, and the Nasdaq ended the day 1.36% lower at 2,910.32.

All sectors in the S&P 500 ended the day sharply lower. Industrials were the worst performers in trading today, ending the day 2.67% lower. Conglomerates also fell sharply, ending the day 2.66% lower. Basic Materials stocks ended the day 2.45% lower, while Energy stocks ended the day 2.35% lower. Financials ended the day 2.64% lower.

Among the major losers in trading today were Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), which ended the day 2.50% lower at $39.44, Bank of America Corporation (NYSE:BAC), which ended the day 3.26% lower at $7.71, Apple Inc. (NASDAQ:AAPL), which ended the day 0.54% lower at $530.26, Schlumberger Limited (NYSE:SLB), which ended the day 2.51% lower at $73.79, and Zeltiq Aesthetics Inc. (NASDAQ:ZLTQ), which ended the day 33.75% lower at $7.36.

Among the major gainers in trading today were Dick’s Sporting Goods Inc. (NYSE:DKS), which ended the day 2.90% higher at $46.89, and Shuffle Master Inc. (NASDAQ:SHFL), which ended the day 10.16% higher at $16.05.

European markets ended sharply lower in trading today, with the FTSE 100 Index in London closing 1.86% lower and the CAC 40 Index in Paris closing 3.58% lower.

Ed Liston was a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guided an independent team of experienced analysts and wrote for multiple stock trader publications.