By  on September 22, 2011

Investors ran further from risk Thursday as they sold their stock holdings for the safety of U.S. government debt, sending the yield on a 10-year note to a record low and the U.S. equity markets into a tailspin for the second straight day.

The Dow Jones Industrial Average closed down 391.01 points, or 3.5 percent, to 10,733.83, while the S&P Retail Index fell 15.40 points, or 3 percent, to 499.06. The Dow has fallen 5.9 percent in the last two days, and dipped below the 11,000 mark for the first time since Sept. 9. All major retail and luxury stocks worldwide followed the Dow down.

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