Dow drops more than 300 points as oil continues to plunge

NEW YORK (AP) -- The Dow Jones industrial average closed more than 300 points lower Friday, its worst loss in two months.<br /> <br /> Traders were discouraged by another slump in the price of oil and more signs of weakness in China.<br /> <br /> The Dow dropped 315 points, or 1.8 percent, to 17,280. The Dow had its first losing week since October.<br /> <br /> The Standard & Poor's 500 fell 33 points, or 1.6 percent, to 2,002. The Nasdaq slid 54 points, or 1.2 percent, to 4,653.<br /> <br /> Oil prices sank again after the International Energy Agency said global demand will grow less than previously forecast next year.<br /> <br /> Crude tumbled $2.14, or 3.6 percent, to $57.81 a barrel. It's down 47 percent since June.<br /> <br /> Bond prices rose. The yield on the 10-year Treasury note fell to 2.09 percent.

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