Financial Times FT.com

Wall Street plunges on economic fears

By Alistair Gray in New York

Published: December 1 2008 13:54 | Last updated: December 1 2008 22:08

The health of the economy and financial institutions returned to haunt Wall Street on Monday as US stocks suffered their heaviest losses since October.

The month began in a sour mood as traders, on their return from the Thanksgiving break, were greeted with official confirmation that the economy has been in recession for a year.

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