Stocks tumble for 2nd day as China further devalues the yuan

August 12, 2015 1:59 PM

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Stocks tumble for 2nd day as China further devalues the yuan

U.S. stocks tumbled for a second straight day Wednesday after China's currency fell again following another surprise devaluation. Global markets also plunged for a second day.

The Dow Jones industrial average fell almost 200 points, or 1.1%,at the open, adding to Tuesday's 212-point drop. The blue-chip index has dropped nine out of the last 10 trading sessions and is down about 6% from its record close of 18,312.39 back on May 19.

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