(CNBC) U.S. stocks closed near session lows, off about 2 percent, as investors weighed continued uncertainty about the timing of a rate hike and concerns about global growth headed by slowing in China. ( Tweet This )
"I think the markets are overly pessimistic," said Anthony Valeri, investment strategist at LPL Financial. "I think this sentiment is panicking over news from China, the Fed (and) oil at six-year lows."
The S&P 500 fell into negative territory for the year, off about 1 percent, with consumer discretionary the greatest decliner on the day. Energy is the greatest laggard for the year, down 17 percent.
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