Dow slides 2.1%

The Dow Jones industrial average dropped 247.49 points, or 2.1%, to close at 11,397.

Alcoa led the Dow lower with a 6.6% decline.

The Standard & Poor’s 500 index lost 23.72, or 1.9%, to 1,200.86.

All 10 industry groups in the S&P 500 were lower. Banks fell the most, 3.3%.