Stocks regained some of that ground as the day wore on, but the Dow Jones industrial average finished the day down 588 points. The slump - part of a global wave of selling triggered by the slowdown in China - reflected uncertainty among investors over where to put their money when the world's second-largest economy is in a slide.
How concerned are you about the financial markets? Scroll to the bottom of the article to take our poll.
Here's a look at how local companies fared today.
- Red Hat, Inc (RHT): -$3.30 (-4.56%) closing at $69.03
- Quintiles Transnational Holdings Inc. (Q): -$2.70(-3.70%) closing at $70.24
- Martin Marietta Materials, Inc. (MLM): -$6.82 (-$4.22%) closing at $154.82
- Cree, Inc. (CREE): $0.88 (+3.46%) closing at $26.33
- Highwoods Properties Inc. (HIW): -$2.20 (-5.40%) closing at $38.51
- First Citizens Bancshares Inc. (FCNCA): -11.67 (-4.83%) closing at $229.78
- INC Research Holdings, Inc. (INCR): -$2.40 (-5.67%) closing at $39.96
- PRA Health Sciences, Inc. (PRAH): -$4.02 (-10.24%) closing at $35.22
- Ply Gem Holdings, Inc (PGEM): -$1.31 (-9.36%) closing at $12.69
- BioCryst Pharmaceuticals, Inc. (BCRX): -$0.60 (-5.00%) closing at $11.39
The Dow fell 588.47 points, or 3.6 percent, to 15,871.28. The S&P 500 index slid 77.68 points, or 3.9 percent, to 1,893.21. The Nasdaq composite shed 179.79 points, or 3.8 percent, to 4,526.25 points. The three indexes are down for the year.
More on Wall Street's bad day here.
App users take our poll here.