Recession fears strike again

Jan. 17 - US stocks were slammed after a $10 billion loss at Merrill Lynch added to recession jitters. The Dow slumped 306 points to 12,159. The S&P 500 shed 39 points to 1,333. The Nasdaq tumbled 47 points to 2,346. Crude oil fell to settle near $90 a barrel.

Conway Gittens reports from New York.Reuters Video