Stocks tanked Friday, falling to the worst levels in nearly 18 months after a weak February employment report and more financial sector woes exacerbated recession fears.
Oil spiked to a record $106 a barrel before retreating a bit, the dollar continued its plunge and traders continued to pour money into government bonds.
The Dow Jones industrial average lost 1.2%, falling to its lowest point since Oct. 11, 2006.
The broader Standard & Poor's 500 index fell 0.8%, closing at its lowest level since August 23, 2006. The Nasdaq composite lost almost 0.4% and ended at its lowest point since Sept. 11, 2006.
On the plus side, it is a good time to get into the market and/or add to your current portfolio.
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