Stocks in the United States fell on Thursday as new economic data heightened fears of a deep recession.
Allstate insurer was down 20.7% after posting a $US1.1 billion quarterly loss. JPMorgan fell 8.1% to $US25.43.
Government reports showed the number of people filing for unemployment benefits hit a record in mid-January. Orders for long-lasting goods fell for the fifth consecutive month in December.
Sales of new houses were at a record low. The Dow Jones home construction index fell 8% after sales of new homes fell in December to the lowest annual pace since the Commerce Department started keeping records in 1963.
Boeing stock lost 5.9% after the jet plane maker announced the cancellation of an order on Wednesday.
The Dow Jones industrial average slid 226.44 points, or 2.7%, to 8,149.01.
Standard & Poor's 500 Indextumbled 28.95 points, or 3.31%, to 845.14. The Nasdaq Composite Index dropped 50.50 points, or 3.24%, to 1,507.84.
Volume was moderate on the New York Stock Exchange, where about 1.44 billion shares changed hands. About 1.96 billion shares were traded on the Nasdaq.
