U.S. stocks tumbled to two-month lows Wednesday as fears about the health of China’s economy again led to widespread selling. The price of oil plunged to its lowest level since 2008 on the prospect that global demand could fall further.
The Dow Jones industrial average lost 252.15 points, or 1.5 per cent, to 16,906.51.
The Standard & Poor’s 500 index sank 26.45 points, or 1.3 per cent, to 1,990.26.
The Nasdaq composite index retreated 55.67 points, or 1.1 per cent, to 4,835.76.
For the week:
The Dow is down 518.52 points, or 3 per cent.
The S&P 500 is down 53.68 points, or 2.6 per cent.
The Nasdaq is down 171.65 points, or 3.4 per cent.