U.S. stocks plunge in first day of 2016 trading

Shares on Wall Street tumbled Monday, following sharp losses in China and Europe.
U.S. stocks started 2016 with their biggest intra-day selloff since September 2015.
The Dow dropped 423 points, or 2.4 percent, to 17,002 at 12:25 p.m. Eastern.
The S&P 500 shed 2.3 percent, or 48 points, to 1,995 and the Nasdaq fell 2.8 percent, or 141 points, to 4,866.
Overnight, Chinese markets dropped nearly seven percent, and so-called circuit breakers halted trading.
The drop led the Shanghai and Shenzhen stock markets to halt trading for the remainder of Monday to avert steeper falls, the official Xinhua News Agency said.