NEW YORK — Stocks and interest rates are tumbling after more signs of a slowing global economy have spooked traders.
A drop in Asian markets has touched off the selling after an index that forecasts China’s economic activity was revised lower. European indexes then fell after Greek workers walked off the job to protest budget cuts.
The selling intensified after U.S. consumer confidence fell sharply this month because of worries about the overall economy. The Conference Board’s Consumer Confidence Index dropped to 52.9 from a revised 62.7 in May. Economists forecast a modest drop.
In late morning trading, the Dow Jones industrial average was down 243 points at 9,896.
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