(CNBC) — U.S. stocks closed sharply lower Monday as uncertainty about the timing of a rate hike and concerns about global economic growth continued to weigh on sentiment.
The S&P 500 closed down about 2.5 percent, falling below the psychologically key level of 1,900 for the first time since Aug. 26. Health care fell more than 4 percent as the greatest decliner.
The Dow Jones industrial average closed near session lows, off about 312 points, but holding just above the psychologically key 16,000 level. Earlier, the index dipped below 16,000 for the first time since Sept. 1. The last close under that level was on Aug. 25.
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