Dow Jones Drops 300 Points Amid Debt Worries
The Dow Jones sunk 300 points in early trading, according to CNN Money, with the impending failure of the Super Committee and worries over government debt in U.S. and European markets.
Investors are also concerned with the downgrading of the U.S. AAA rating. The drop was the index's third day of losses in the past four days, reported MSNBC.
USA Today reported the 2.5 percent fall shortly after noon eastern time.
European markets also saw drops.
"It isn't just the failure of the committee that's causing investors to shun risk around the world, although I thought we would get some kind of last-minute deal," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
"Between the continued concerns about Europe, especially France now, and the comments out of China, there are just so many ongoing problems."
Trading is expected to be light during Thanksgiving week.
See more coverage on how the Super Committee is expected to fail here.
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