Stock markets drop nearly 3 percent, Iowa index down 2.19 percent
U.S. stocks plummeted Tuesday as continued signs of weakness in China and concerns about the Federal Reserve weighed heavily on investor sentiment, CNBC reported.
The major averages ended in correction territory, down nearly 3 percent after a failed attempt in the closing minutes to recover some losses.
The Dow Jones industrial average closed about 470 points lower after falling as much as 548 points. The Nasdaq composite wiped out gains for 2015, joining the other averages in the red for the year so far.
The Iowa index, an unweighted average price of the 22 Iowa-based public companies – fell 2.19 percent, losing 76 cents. For the year, the Iowa Index was down $1.37 or 3.9 percent at today’s close.
Read our monthly analysis in the article below to see how Iowa’s publicly traded companies fared in August.
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