Citi, Japan fan recession fears

(01:46) Report

Nov 17 - Citigroup's plan to slash 52,000 workers and Japan's slip into an official recession stoked fears the economic slowdown is gathering momentum.

  • The Dow lost 223 points to 8,273.
  • The S&P 500 dropped 22 points to 850.
  • The Nasdaq fell 34 points to 1,482.
  • Crude oil settled down $2.09 a barrel at $54.95 a barrel.

    Conway Gittens reports from New York.

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