Nasdaq confirms bear market; Wall St. slides on economic concerns

The closing numbers are displayed after the closing bell of the New York Stock Exchange (NYSE) in New York, U.S., December 21, 2018. REUTERS/Bryan R Smith.

NEW YORK (Reuters) – Wall Street stocks fell sharply in volatile trading on Friday, with the Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communication services.

The Dow Jones Industrial Average fell 416.09 points, or 1.82 percent, to 22,443.51, the S&P 500 lost 50.8 points, or 2.06 percent, to 2,416.62 and the Nasdaq Composite dropped 195.41 points, or 2.99 percent, to 6,333.00.

Reporting by April Joyner; editing by Jonathan Oatis

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