Here we go again. Stocks took another nosedive Tuesday following more fears about a slowdown in China’s economy. The Dow Jones Industrial Average plunged more than 500 points, or 3.1%, and is 12% below the all-time high it set in May. The S&P 500 fell 3.3% and is once again in a so-called correction.
It’s down more than 10% from the record that it hit in May.Only two stocks in the S&P 500 were higher heading into the close — Cablevision (CVC) and American Airlines (AAL). The tech-heavy Nasdaq sank 3.2% as well and is 11% below its July peak. The Nasdaq also lost its gains for the year Tuesday and is now 2% lower in 2015. It’s an ominous start to September, which is historically the worst month for stocks. (Investors may be singing “Wake Me Up When September Ends” by Green Day if this keeps up.) FULL REPORT