Joseph Ciolli

People with the highest income bailed from stocks disproportionately on the worst days of the financial crisis, according to a new Ohio State University and University of Michigan study.

Turbulence in financial markets gathered momentum amid intensifying concern over slowing global growth, pushing the Dow Jones Industrial Average into a correction and giving other stock gauges their worst losses since 2011.

U.S. stocks fluctuated, after the Dow Jones Industrial Average rose to a record yesterday, as investors dissected corporate earnings and data showing an unexpected gain in jobless claims and higher consumer spending.

U.S. stocks rose, sending the Dow Jones Industrial Average toward a record close, and Treasuries fell as a report showed U.S. companies added to payrolls last month. The dollar strengthened with copper and gold.