NEW YORK — U.S. stocks are moving sharply lower as worries intensify about China’s economy and dropping oil prices.
China’s main stock index plunged again Thursday as its currency weakened, triggering the second automatic halt in trading this week. China’s market regulator later said it would suspend the trading halts.
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.
The Dow Jones industrial average sank 195 points, or 1.2 percent, to 16,710 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index lost 24 points, or 1.2 percent, to 1,966. The Nasdaq composite fell 75 points, or 1.6 percent, to 4,759.
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