“The Dow Jones Industrial Average plunged 283.82 points, or 2.49 percent, to end at 11,124.84, led by BofA and JPMorgan,” Park reports. “The S&P 500 slumped 35.33 points, or 2.94 percent, to close at 1,166.76, logging its biggest drop in almost a month. The Nasdaq fell 52.05 points, or 2.01 percent, to finish at 2,538.19.”
Park reports, “On the tech front, Hewlett-Packard jumped following reports that the IT company’s board may consider replacing current CEO Leo Apotheker with former eBay CEO Meg Whitman. Apple closed slightly lower, even after Goldman Sachs raised its price target for the company from $480 to $520. Meanwhile, Apple is expected to announce its new iPhone 5 model on Oct. 4, according to AllThingsD, citing latest market rumors. New CEO Tim Cook is expected to take the stage to reveal the smartphone.”
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