US stocks plunge over 3% in China-driven rout

Traders work on the floor of the New York Stock Exchange on August 21, 2015 in New York CityUS share prices plunged more than three percent Friday as China’s economic problems drove a major selloff on Wall Street for a second day. In its worst single session in nearly four years, the Dow Jones Industrial Average lost more than 500 points, or 3.12 percent, while the broader S&P 500 gave up 3.19 percent and the Nasdaq Composite shed 3.52 percent. The rout followed similar declines in Asian and European markets amid rising fears that China’s slowdown will stall growth worldwide and even hit the relatively strong US economy.

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