Dow tumbles on recession fears. So much for a Santa Claus rally

New York CNN — Christmas is just 10 days away, and investors hoping for a Santa Claus rally have found little holiday cheer on Wall Street this month – especially Thursday.

The Dow plummeted nearly 765 points, or 2.3%, Thursday, and it is down 4% in December following solid gains the previous two months. Verizon (VZ) was the only one of the 30 Dow stocks in positive territory.