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US Stocks Take a Bad Fall

Worries about China's economy keep growing
By Newser Editors and Wire Services
Posted Sep 28, 2015 3:20 PM CDT

(Newser) – The stock market had its worst drop in nearly a month as investors worried about more signs of weakness in China's economy. The Dow Jones industrial average dropped 312 points, or 1.9%, to 16,001 Monday. The Standard & Poor's 500 index sank 49 points, or 2.6%, to 1,881. The Nasdaq composite lost 142 points, or 3%, to 4,543. Biotechnology stocks, until recently a high-flying sector, continued to drop sharply.

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Mining, energy, and basic materials stocks also fell hard. Tumbling prices for oil, copper, and other commodities have hurt profits at those companies. The losses were widespread, with 98% of the stocks in the S&P 500 index ending lower. Bond prices rose. The yield on the 10-year Treasury note fell to 2.10%. (Read more Dow Jones stories.)

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