Stocks fell sharply for the second straight day yesterday, the market stumbling to lows unseen since early spring, as investors dwelled on America's declining economic growth rate.

The Dow Jones Industrial Average fell 131.13 points to 10,090.90, a finish unseen since April 11th. The broader Standard & Poor's 500 index dropped 12.95 points to 1,148.56, a close unseen since April 9th. The Nasdaq slipped 21.81 points to 1,843.17. The Nasdaq's recent closing low remains last Tuesday's 1,831.30.

The government reported GDP grew 0.2 per cent, its slowest pace in more than eight years, in the second quarter, as businesses aggressively slashed inventories and cut investment spending. Personal computer maker Gateway was in focus after it said it would cut about a quarter of its global workforce, taking a $475 million third-quarter charge and shutting operations in Asia and possibly in Europe. It expects to be marginally profitable for the second half of 2001 on a pre-tax basis.