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Economics

U.S. Stocks Sink in Worst Week Since 2011 as China Revives Angst

  • S&P 500 plunges 6% in worst-ever start; Dow drops 1,079 points
  • China rekindles slowdown worry, sparks selloff in risk assets
A trader works on the floor of the New York Stock Exchange during the afternoon of Jan. 4, 2016 in New York City.

A trader works on the floor of the New York Stock Exchange during the afternoon of Jan. 4, 2016 in New York City.

Photographer: Andrew Burton/Getty Images

Volatility erupted anew in financial markets as a fresh year brought jarring swings, anxiety about global growth and the worst start on record for equities both in the U.S. and in the world.

The Standard & Poor’s 500 Index tumbled 6 percent in the week, the biggest drop since September 2011 and the steepest slide over five days to begin a year on record. Even a blockbuster jobs report that bolstered optimism in the world’s largest economy wasn’t enough to arrest the freefall, with an end-of-week rally stalling as investors shunned U.S. equities heading into the weekend.