The stock market took a pounding Friday as investors fretted more weak economic data and trouble in the financial sector.

The

Dow Jones Industrial Average

slid 316 points, or 2.5%, to 12,266, and the

S&P 500

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sank 37 points, or 2.7%, to 1331. The

Nasdaq

shed 60 points, or 2.6%, to 2271.

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This article was written by a staff member of TheStreet.com.