US STOCKS-Wall St tumbles on economy, bank worries | Reuters: NEW YORK, Aug 18 (Reuters) - U.S. stocks tumbled more than 4 percent on Thursday after data pointed to a stalled U.S. economy and as bank shares sank on a report regulators were scrutinizing the U.S. units of big European lenders.
The decline was broad as well as steep, with just a small handful of the S&P 500's components in positive territory.
The KBW bank index .BKX slid 5.5 percent, with Citigroup Inc (C.N) off 9.6 percent at $27, and Morgan Stanley (MS.N) down 7.5 percent at $15.75.
"The market is in meltdown mode," said Sal Catrini, managing director for equities at Cantor Fitzgerald & Co in New York. "The data continues to stink. We continue to be in a soft patch."
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