U.S. stocks plummet after China selloff
U.S. stocks tumbled to start 2016, as a rout in Chinese equities renewed concern that an economic slowdown there will damp global growth.
Investors returning to the market after the New Year holiday are facing a selloff that spread from China to Europe, and a reminder of the worries that dragged down stocks in August.
The Dow Jones Industrial Average tumbled 276 points on the day to close at 17,148, down around 1.6%. The S&P 500 closed down 1.5% at 2,012, marking its worst start to a year since 1983, as banks and health care shares led declines.