国际英语新闻：S&P, Nasdaq close at 2010 lows on global slowdown concerns

NEW YORK, June 29 (Xinhua) -- U.S. stocks tumbled on Tuesday, with both the S&P and Nasdaq settling at their lowest levels in 2010, as downbeat economic news made investors worry that the global economic rebound was weakening.

The Dow Jones industrial average ended 268.22 points lower to 9, 908.92, after once tumbling more than 300 points during the session.

The Standard & Poor's 500 index plummeted 33.33 points, or 3.10 percent, to 1,041.24 and the Nasdaq slumped 85.47 points, or 3.85 percent, to 2,135.18. Both indexes were at their lowest closing levels for the year.

Traders work on the floor of the New York Stock Exchange June 29, 2010. Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

Asian and European markets were broadly down, with the Shanghai Composite falling more than 4 percent to the lowest level in 14 months, after the Conference Board, a New York-based research group, revised its leading economic index for China to show the smallest gain in five months in April.

Industrial companies and natural-resource firms were among the hardest hit as investors worried a slowdown in China, one of the main drivers in global economic recovery, will result in the decrease in demand.

Europe was also a major issue. With labor strikes continue in Greece and Spain, more and more people are predicting that neither of the countries will be successful in their austerity measures or cutting their debt enough without some additional aid, which push Credit default swaps spreads in Greece and Spain to their new highs.