Stock Market Falls; Dow, S&P 500 Down More Than 2%

Worries about spreading contagion from troubles in China’s property market sent U.S. stocks toward their steepest declines in months on Monday.

The S&P 500 dropped 2.2%, with its losses accelerating midday. The Dow Jones Industrial Average lost 2.2%, or more than 750 points, dragged down by shares of Caterpillar and financial heavyweights like Goldman Sachs . The technology-focused Nasdaq Composite Index fell 2.6%.


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