Washington - US stock indices continued their downward spiral at the start of a new week Monday, led by a drop in energy and metals producers.
The price of oil fell to its lowest point since May 2007, sparking fresh concerns that a potential global recession will depress demand for commodities. Crude oil for December delivery dropped 1.4 per cent to 63.22 dollars per barrel on the New York Mercantile Exchange.
The Dow Jones Industrial Average tumbled 203.18 points, or 2.42 per cent, to 8,175.77. The broader Standard & Poor's 500 lost 27.85 points, or 3.18 per cent, to 848.92. The technology heavy Nasdaq Composite Index fell 46.13 points, or 2.97 per cent, to 1,505.90.