Wall Street joins global stocks sell-off, Dow Jones drops 260 points

NEW YORK, New York – Global stocks tumbled on Thursday with industrials and techs all taking a beating.

The rot began in Hong Kong, when the Hang Seng dived more than 800 points as Chinese regulators moved on technology companies that are listed on U.S. stock exchange.

American markets were down much lower earlier but trimmed losses before the close.

The Dow Jones ended with a 259.86 points or 0.75 percent deficit at 34,421.93.

The Nasdaq Composite shed 105.28 points or 0.72 percent to 14,559.79.

The Standard and Poor’s 500 dropped 37.30 points or 0.86 percent to 4,320.83.

The U.S. dollar was mixed. It lost ground to the euro as profit-takers moved on the EU currency. The euro approaching the New York close Thursday was last quoted at 1.1844.

The British pound was unmoved at 1.3781. The Japanese yen crept higher to 109.79. The Swiss franc was also firmer at 0.9162.

The Canadian dollar inched up to 1.2537. The Australian dollar was unwanted, falling to 0.7426. The New Zealand dollar was also sold off, last fetching 0.6945.

In London, the FTSE 100 tumbled 1.68 percent, The German Dax fell 1.73 percent. The Paris-based CAC 40 plummeted 2.01 percent.

On Asian markets, the key Hang Seng index closed down 823.11 points or 2.94 percent at 27,137.51.

In Japan, the Nikkei 225 was also sold off. The key index lost 248.92 points or 0.88 percent to close at 28,118.03.

In China, the Shanghai Composite shed 28.21 points or 0.79 percent to 3,528.50.

The Australian All Ordinaries went against the trend, adding 15.60 points or 0.21 percent to 7,614.90.