Fear grips Wall Street

Jul. 26 - U.S. stocks suffered one of their biggest losses of the year, as part of a global sell-off, led mainly by worries tied to the housing market and fear merger and acquisition activity will slow. The Dow tumbled 311 points to 13,473. The S&P 500 lost 35 points to 1,482. The Nasdaq slid 48 points to 2,599. Crude oil hit $77 a barrel before falling.

Conway G. Gittens reports from New York.

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