The Namibia Press Agency, (NAMPA), was established in 1991 as a national news agency responsible for the distribution of local, regional and international news.

1st LD: U.S. stocks close sharply lower as recession fears grip Wall Street

Contributed by NAMPA / Xinhua.

NEW YORK, Aug. 14 (Xinhua) -- U.S. stocks closed remarkably lower on Wednesday, as persisting fears over an imminent recession dealt a blow to the already-dampened investor sentiment.
The Dow plunged 800.49 points, or 3.05 percent to 25,479.42, marking the largest daily decline of the year so far. The S&P 500 decreased 2.93 percent to 2,840.60, and the Nasdaq fell 3.02 percent to 7,773.94.
All of the 11 primary S&P 500 sectors traded lower around market close, with the energy sector down nearly ...



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