Dow tumbles over 500 points and S&P 500 stares down first correction since March as stock market hits session low

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Stocks were facing heavy selling Wednesday afternoon, pushing the main equity benchmarks to trade near session lows as investors’ appetite for assets perceived as risky appeared to abate. The Dow Jones Industrial Average was off 527 points, or 2%, at 26,756, around its low for the day, while the S&P 500 index declined 2.2% to 3,241, threatening to push the index closer to correction at 3,222.76 for the first time since March. The Nasdaq Composite Index retreated 3% to reach 10,637, deepening its slide in correction territory, defined as a drop of at least 10% from a recent peak.
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