Stocks continue big decline in 2016

The dismal start to 2016 on Wall Street got a lot worse Wednesday.

Stocks tumbled again on fears of a global slowdown and alarm over plummeting oil prices, officially sending the Standard & Poor’s 500 index into what’s known as a correction, or a drop of 10% or more from its peak.

The Dow Jones industrial average also slumped, losing more than 300 points.

The drop over the first eight trading days is the worst start to a year in for the S&P 500 and the Dow.