“U.S. stocks plunged to their worst one-day performance since 2001 on Tuesday, with the Dow Jones Industrial Average losing 200 points in one minute around 3 p.m. before recovering some ground by the close, after a sell-off in China fueled concerns about growth,” Nick Godt reports for MarketWatch.

“Concerns that tighter credit conditions in China and Japan might dampen global growth first sent Shanghai sliding 9% overnight before the sell-off spread to other markets,” Godt reports. “The Dow Jones Industrial Average fell 415 points, or 3.3%, to close at 12,216, its worst one-day drop since September 2001. All 30 Dow components fell by at least 1%.”

Godt reports, “The S&P 500 index dropped 50 points, or 3.5%, to 1,399, while the technology-heavy Nasdaq Composite took the brunt of the selling, falling 96 points, or 3.9%, to 2,407… Also weighing on techs, Apple Inc. (AAPL : $83.93, -4.72, -5.3%) fell 5.3% after announcing a delay in the launch of Apple TV.”

Full article here.

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