Fear of slowing growth pushes down global markets

Fear is back in the market. Investors are fretting about China's growth, a plunge in Argentina's peso and the profit outlook for U.S. companies.

Those worries have converged to set off a two-day rout in global markets, and have sent the Dow Jones industrial average down 200 points today.

Investors are dumping risky assets like stocks and currencies in countries with troubled governments. They are buying safer ones like bonds and the Japanese yen.