U.S. Stock Market Closes Down 588 Points

In a historic day of turbulence, the stock market whipped between nauseating drops and roaring comebacks on Monday before closing with another big loss.

Seized by fears that the Chinese economy is not as healthy as it appeared to be, investors sold with abandon at the opening bell and sent the Dow Jones industrial average down almost 1,100 points, the biggest decline on record in a trading day.

Then the market staged a dramatic comeback and almost erased its losses, coming within about 115 points of break-even. By late afternoon, stocks were sinking again — and the Dow closed down 588 points, or 3.6 percent…

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