Wall St. slumps more than 2 percent as China fears continue

August 21, 2015 7:01 PM

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Wall St. slumps more than 2 percent as China fears continue

U.S. stocks slumped late in the trading session on Friday as the S&P broke below the 2,000 level and the Dow slipped closer toward correction territory as fears of a China-led global slowdown continued to rattle investors.

A report overnight showed China's manufacturing sector shrank at the fastest pace since 2009, exacerbating worries about the health of its economy and whether the government would take further steps to stem its slowdown.

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