Stocks drop worldwide amid flight to safety

Signs of distress in financial markets accumulated amid deepening concern over the health of the global economy, sending the Dow Jones Industrial Average more than 300 points lower.

The Standard & Poor’s 500 Index headed for its lowest close in 22 months, as US shares joined a retreat in European and emerging-market stocks.

Investors sought the safest assets, sending yields on Treasury 10-year notes to the lowest level in a year, and those on Germany’s 10-year bunds to the lowest since April.