US stocks retrace most of an early loss

Staff Writer
Columbus CEO

U.S. stock indexes have mostly recovered from a steep decline and are slightly lower at midday.

The Dow Jones industrial average was down 77 points, or 0.5 percent, to 16,067 as of 11:54 11:31 a.m. Eastern time Thursday.

It sank as much as 206 points in the first hour of trading, turned slightly higher, then fell again.

The Standard & Poor's 500 fell seven points, or 0.4 percent, to 1,854. The Nasdaq was 27 points lower, or 0.7 percent, at 4,186.

The latest swings in the market reflect a surge in volatility as investors worry that global growth with slow and that Europe could slip into another recession.

Netflix plunged 22 percent after the company's subscriber growth fell short of its own forecasts following a rate increase.