News In Brief
New York — Interest, budget concern keeps stocks in tailspin
The stock market, which has been in a slide for the past month, plunged Monday in heavy trading on investor concern about interest rates and the federal budget deficit.
The Dow Jones industrial average, which recovered a bit at midday after being down 15.39 in the first half hour, was off 16.86 to 1,180.17 at 2 p.m.
The Dow's 32.97-point loss last week was the worst since it fell 39.74 the period ended Oct. 29, 1982.