(CNBC) — U.S. stocks closed sharply lower Thursday as China news overnight and low oil prices renewed concerns about global economic growth.
The Dow Jones industrial average briefly fell more than 400 points to trade more than 10 percent below its 52-week intraday high, in correction territory. The Nasdaq composite was temporarily down 3 percent, also trading in correction territory.
The S&P 500 briefly traded more than 2.5 percent lower, about 9 percent away from its 52-week intraday high in afternoon trade.
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