From USAtoday.com…
Stocks slumped on Monday, sending the Dow Jones industrial average to its biggest drop in months on worries that one of China’s largest property developers could default on billions of debt, which could threaten to spill over into other parts of the global economy.
The blue-chip index shed 614 points, or 1.8%, to 33,970.47, its worst sell-off since July.
The S&P 500, the benchmark used for most mutual funds, fell 1.7%, its biggest decline since May. The benchmark index hasn’t posted 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.
Technology companies led the broader market lower, with the Nasdaq falling 2.2%. Apple dropped 2% and chipmaker Nvidia shed 3.6%.
