WASHINGTON, (Sputnik) – The Dow Jones Industrial Average closed at 16,058.35, a fall on the day of 469.68 points, or 2.84 percent, Dow Jones Indices (DJI) said.
The falls on Tuesday appeared in part to be a reaction to new figures from China showing that industrial production in the month of August fell further than in any single monthly over the previous six years, reports said.
"All three major US indexes lost more than 2 percent, pushing the blue-chip Dow and the Standard & Poor's 500 into correction territory," International Business Times said.
"The Nasdaq composite erased all of its gains for the year, joining the Dow and S&P 500 in turning negative for the year."
The New York Stock Exchange applied Rule 48 on Tuesday for the fourth time in two weeks to slow down the rate of trading and prevent panic spreading out of control, IBT noted.
Energy stocks fell by a full 3 percent after US oil prices dropped below $46 a barrel, IBT said.
