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Stock Market Suffers Worst Drop Of The Year On China, Commodities Concerns

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-- The stock market had its worst drop this year as prices for oil and other commodities fell sharply on concerns about slowing growth in China.

Oil fell to a four-month low, dragging down energy stocks. Mining companies sank after gold had its biggest one-day drop since 1983.

The Dow Jones industrial average fell 265.86, or 1.8 percent, to close at 14,599.20.

The S&P 500 index fell 36.49 points, or 2.3 percent, to 1,552.36.

The Nasdaq composite fell 78.46 points, or 2.4 percent, to 3,216.49.

For the year:

The Dow is up 1,495.06 points, or 11.4 percent.

The S&P 500 is up 126.17 points, or 8.9 percent.

The Nasdaq is up 196.98 points, or 6.5 percent.

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