US Stocks Slump; Dow Briefly Plunges 1,000 Points

August 24, 2015 7:45 PM

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U.S. stocks are closing sharply lower, with the Dow Jones industrial average down more than 588 points and the Standard & Poor's 500 index now down more than 10 percent off its recent high.

The slump is part of a global wave of selling triggered by increased signs of an economic slowdown in China.

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