Stocks lost ground on Wall Street as investors fretted about more dire predictions about the global economy, according to the Associated Press. The Dow lost 133.68 points (0.75%) to finish at 17,603.32, the NASDAQ closed 47.86 points (0.98%) lower at 4,843.93, and the S&P 500 decreased 20.94 points (1.01%) to 2,045.19. The Russell 2000 was down 12.62 points (1.14%) at 1,095.85, and the Wilshire 5000 fell 186.18 points (0.88%) to 21,036.73.

On the NYSE, 3.2 billion shares traded, and on the NASDAQ, 2.7 billion shares changed hands, with declining issues outnumbering advancing issues more than 2 to 1 on both exchanges.

ON THIS DATE: In 1607, an expedition led by Captain Christopher Newport arrived at the Spanish colony of Puerto Rico for supplies before continuing on its journey. On May 14, the crew went ashore and founded Jamestown, Virginia, as the first permanent English colony in America. In 1830, Joseph Smith and five others organized the Mormon Church in western New York. In 1896, the first modern Olympic Games began in Athens, Greece. In 1917, the U.S. Congress approved a declaration of war on Germany and entered World War I on the Allied side. 1965 – U.S. President Lyndon B. Johnson authorized the use of ground troops in combat operations in Vietnam. In 1987, Sugar Ray Leonard took the middleweight title from Marvin Hagler.