(MONEY.CNN) — Here we go again. Stocks took another nosedive Tuesday following more fears about a slowdown in China's economy.
The Dow Jones Industrial Average dropped 400 points, or 2.4%, and is 12% below the all-time high it set in May. The S&P 500 fell 2.5% and is once again close to entering a so-called correction. It's down almost 10% from the record that it hit in May.
The tech-heavy Nasdaq fell 2.3 as well and is 11% below its July peak. The Nasdaq also lost its gains for the year Tuesday and is now 1.5% lower in 2015.
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