(CNBC) — U.S. stocks plummeted Tuesday as continued signs of weakness in China and concerns about the Federal Reserve weighed heavily on investor sentiment.
The Dow Jones industrial average traded about 470 points lower after briefly falling 540 points, still in correction territory. The Nasdaq composite wiped out gains for 2015 and fell into correction territory on an intraday basis. The S&P 500 also fell into correction.
"Today is just a continuation of last night's sentiment, plain and simple. Concerns continue to erupt about China's economy and the growth decline in energy and WTI today," said Ryan Larson, head of equity trading at RBC Global Asset Management (U.S.).
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