Stocks suffer worst quarter since financial crisis; S&P 500 off 12 pct, Dow down 10 percent
BAD END TO A BAD QUARTER: The Dow Jones industrial average fell 96 points Wednesday. The Dow and the Standard & Poor's 500 had their lowest closes for the year. The S&P 500 lost 11.9 percent during the second quarter, while the Dow lost 10 percent.
LOSERS AND WINNERS: Materials and energy stocks were the quarter's biggest losers. Utilities and telecommunications companies fared the best.
NOW WHAT?: Investors await the government's June employment report for a sense of whether the economy is continuing its recovery. After that, they want to see companies' second-earnings reports.