Markets Plunge Following Sharp Chinese Market Drop

The steepest slide in a decade on the Chinese market rattled investors and sent the markets spiraling down to close sharply lower. The Dow plummeted 416 points, the largest deline since the terrorist attacks on September 11, 2001, to 12,216. Nasdaq plunged 97 points to 2408 while S&P 500 tumbled 50 points to 1399. The 30-year bond rose as the yield fell to 4.630%.