After The Bell: Stocks Plunge On Weak Chinese Data, Fed Uncertainty
(CBS) -- Stocks plunged on Wall Street Tuesday as continued weakness out of China and Fed uncertainty put traders in a selling mood. All three of the major indices finished down nearly 3-percent for the session. The S&P 500 lost 58, the NASDAQ fell 140 and The Dow Jones industrial average shed 470 points, settling to 16,058.
"The sell-off was pretty strong right into the close; clearly we are not done with this yet. Expect more volatility and probably some more downside from here." says Andrew Busch, Editor of the Busch Update. He also adds, "the negative driver for equity markets goes well beyond China at this point."
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