Why US Stocks Had Worst Day in Nearly 4 Years

Why US Stocks Had Worst Day in Nearly 4 YearsSimilar to Thursday’s decline, today’s weakness in the markets is again centered around China, said Ben Garber, Moody’s Analytics economist. Last week, China devalued its currency, the yuan, with the hope of spurring its own economy by making its goods cheaper and imported goods, like those from the U.S., more expensive. The Federal Reserve released minutes from a recent meeting and revealed that the hike in interest rates that many investors expected in September may not happen after all.

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