WALL Street stocks slumped today after China's move to raise interest rates and mixed corporate earnings, with the Dow Jones briefly falling two per cent before recovering slightly.
The blue-chip Dow Jones Industrial Average was down 194.05 points (1.74 per cent) to 10,949.64 points by 1945 GMT, while the broader S&P 500 index lost 22.24 points (1.88 per cent) at 1162.47 points.
The tech-rich Nasdaq composite index shed 54.01 points (2.18 per cent) to 2426.65 points.
The losses followed China's central bank decision to raise interest rates for the first time in nearly three years, as Beijing attempts to limit inflation and soaring property prices.
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Wall St cruises on strong earnings1 big trade led to market plunge
