Dow Plunges 530 Points During Biggest Selloff In Four Years

Foxbusiness.com Wall Street plunged for a second-straight day, forcing all three major U.S. averages to give up their 2015 gains and causing the Dow to easily enter correction territory. The Dow Jones Industrial Average tumbled 530 points, or 3.11% to 16462. The S&P 500 shed 64 points, or 3.17% to 1971, while the Nasdaq plunged 171 points, or 3.52% to 4706. Technology and energy stocks took the biggest hit during the session, with the respective sectors dropping 4.21% and 3.48%. The intense selloff on Wall Street forced the Dow and S&P to shed almost 6% for the week, with the Nasdaq declining nearly 7% for the week, as traders across the globe worried about sustained weakness in China. A report on Chinese manufacturing showed activity shrank at the fastest pace in 6-1/2 years – evidence that the world’s second-largest economy could be in for a sudden slowdown...