NEW YORK – Stocks and commodities took a nose dive Friday on worries that China might put the brakes on its surging economy.
Any slowdown in the Chinese economy will likely reduce global demand for oil, metals and grains, which sent prices of those commodities lower.
The Dow Jones industrial average fell 90.52, or 0.80, to 11,192.58, led by sharp losses in energy and materials stocks.
Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04, and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.
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