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Dow sheds 500 points on fears of contagion from China real estate

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Stock market

Stocks slumped on Wall Street Monday in a broad sell-off that extends an already weak streak for major indexes. Worries about debt-engorged Chinese property developers — and the damage they could do to investors worldwide if they default — are rippling across markets.

The Dow Jones Industrial Average fell 495 points, or 1.4%, to 34,086, on track for its worst sell-off since July.

The S&P 500 fell 1.6%. The benchmark index hasn’t had a decline of more than 1% since mid-August. It’s also coming off two weeks of losses and is on track for its first monthly decline since January.

The Nasdaq fell 1.7%. Technology companies led the broader market lower. Apple fell 1% and chipmaker Nvidia shed 2.7%.


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