US stocks fall sharply on China growth worries

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 percent, to 16,001 Monday. The Standard & Poor’s 500 index sank 49 points, or 2.6 percent, to 1,881. The Nasdaq composite lost 142 points, or 3 percent, to 4,543. Biotechnology stocks, until recently a high-flying sector, continued to drop sharply. Mining, energy and basic materials stocks also fell hard. Tumbling prices for oil, copper and other commodities have hurt profits at those companies.

via ynetnews.com

Source: http://www.ynetnews.com/articles/0,7340,L-4704844,00.html

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