US Stocks Track Chinese Selloff; Dow Down 48

Shanghai Comp. loses 6.7% in one session
By Nick McMaster,  Newser Staff
Posted Aug 31, 2009 3:22 PM CDT
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (AP Photo/Mary Altaffer)
camera-icon View 1 more image

(Newser) – A staggering 6.7% selloff in the Shanghai Composite spooked US stocks, which stayed low throughout today's session, the Wall Street Journal reports. Analysts note that it’s the second time in 3 weeks US markets have fallen in response to a drop in China—a reverse of the usual relationship. The Dow lost 47.92 points to settle at 9,496.28. The Nasdaq dropped 19.71, closing at 2,009.06, and the S&P 500 fell 8.31 to 1,020.62.