Stocks tumble again, Dow drops 318 points
Emerging market assets were hit by worries about slowing growth in China as well as political problems in Turkey, Argentina and Ukraine.With many market participants expecting the Federal Reserve to decide next week to shave its stimulus by another $10 billion a month, investors also worried that interest rates will soon begin to rise. Fed policymakers will conclude a two-day meeting on Wednesday.Among the 10 major S&P 500 sectors, industrials fared the worst, down 3.1 percent, as General Electric Co. lost 3.4 percent to $24.95 and Boeing Co. fell 3.3 percent to $136.65.The Dow Jones industrial average fell 318.24 points or 1.96 percent, to 15,879.11, the S&P 500 lost 38.17 points or 2.09 percent, to 1,790.29 and the Nasdaq Composite dropped 90.701 points or 2.15 percent, to 4,128.173.
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