US stocks slumped to their worst August in nine years, as investors retreated on fears for the US economy.
The Dow Jones Industrial Average ended the month down 4.3%, the worst since May, and first down August for the index in five years, the Wall Street Journal reports.
It was worse for the broader Standard & Poor's 500, which fell 4.7%. The tech-heavy Nasdaq shed 6.2%. In what paints a gloomy picture for the US economy, the Russell 2000 small-cap index recorded its worst August in 12 years, down 7.5%.
The Dow had climbed 7.1% in July, but retreated in August on fears over a double dip recession and on deflation.
August is traditionally a good month for equities, while September has been historically more challenging for the stock market.
The blue-chip index's largest fallers came from the tech sector - with Intel, Cisco Systems and Hewlett-Packard each down more than 13%.
'Right thing to do'
£69m spent on upgrades
European fintech market 'underserved'