Dow Drops 500 Points Due to Shanghai Selloff

“The Dow industrials fell more than 400 points Tuesday, their worst point decline since Sept. 17, 2001. A dramatic tumble in late trading briefly took the blue-chip average down as much as 500 points. Stocks were pressured by a big drop on the Chinese market and disappointing durable-goods data. The Dow and S&P 500 ended the day down 3%, and the Nasdaq fell nearly 4%. GM and Exxon swooned. Shanghai’s index plunged 8.8%, wiping out more than $100 billion of market capitalization in China’s fast-growing market.” Via WSJ & Chicago Tribune.