Stocks Tumble With China Selloff
NEW YORK (AP) — Amid mounting fears about the health of China's economy, U.S. stocks are posting further losses today.
Technology and financial companies are among those hit hardest.
China's stock market slipped about seven percent today, and trading there was automatically suspended -- setting off another slump in Asian and European stocks.
On Wall Street, the Dow has been more than 300 points lower in afternoon trading.
The price of oil sank to its lowest level in 12 years as traders worried that a slump in China, the world's second-largest economy, would mean lower global demand for energy. U.S. crude is near $33 a barrel.