Worsening nuclear crisis rattles financial markets

NEW YORK - Fears that a nuclear reactor in Japan may be in the midst of a partial meltdown is shaking financial markets.

Stock indexes lost 2 percent and gave up nearly all of their gains for the year Wednesday. All 10 company groups that make up the Standard & Poor's 500 index fell.

The Dow Jones industrial average fell 242 points, or 2 percent, to 11,613. It was the biggest drop for the index since August 11.

The Standard & Poor's 500 index lost 25, or 2 percent, to 1,257. The Nasdaq composite fell 51, or 1.9 percent, to 2,617.

Three stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.4 billion shares.