The S&P 500 sank 1.5 percent to 1,935.09 at 4 p.m. in New York, the lowest level since Aug. 12. Today’s slide was the biggest in almost three weeks. Selling accelerated in afternoon trading as index futures contracts expiring in December slipped below 1,940, a level where two previous declines had ended earlier today.
U.S. stocks fell, with the Dow Jones Industrial Average retreating from a record, amid concern that the Federal Reserve could begin to taper its debt-buying program as the economy continues to improve.
Stocks fell, trimming a 12th consecutive monthly gain in Europe, amid concern the Federal Reserve will pare debt purchases as the economy recovers. Commodities slid as the International Monetary Fund cut China’s growth forecast.