Stocks fall sharply on economic worries

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NEW YORK - Stocks fell sharply Friday after a series of depressing economic and corporate reports as well as high oil prices stoked concerns about the health of the economy. The major stock indexes fell more than 2.5 percent and the Dow Jones industrials lost 315 points.

Investors were unnerved by disappointing quarterly results from American International Group Inc. and Dell Inc. And an index of regional business activity that Wall Street regards as a good indicator of a broader report due next week had its weakest showing in more than six years.

Oil prices continued to stir concern about inflation after pushing past $103 per barrel for the first time.

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