U.S. Stocks Finish Lower After Unexpected China Yuan Devaluation

By Wallace WitkowskiMarketWatch Pulse

Stocks closed lower Tuesday after an unexpected devaluation of the yuan by China's central bank sparked concern that the move could weaken the U.S. economy. The Dow Jones Industrial Average fell 212.33 points, or 1.2%, to finish at 17,402.84, after being down nearly 263 points. The S&P 500 Index shed 20.11 points, or 1%, to close at 2,084.07, after being down nearly 28 points earlier. The Nasdaq Composite Index finished down 65.01 points, or 1.3%, at 5,036.79, recovering from an 88-point deficit earlier in the session.

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