U.S. stocks tumbled as the torrid surge in equities came to a screeching halt amid economic jitters. Treasuries climbed.
The Dow Jones Industrial Average extended its rout to 6%. The S&P 500 slumped as much as 5.3%, approaching the 7% threshold that would trigger an exchange-mandated trading pause. Airlines, cruise operators and travel companies that surged in recent weeks bore the brunt of the selling. The KBW Bank Index sank 7.8%, and energy shares joined a slide in oil. Treasury 10-year yields fell to as low as 0.66%, while the dollar jumped.