Stocks Plummet, Bringing S&P 500 Into a ‘Correction,’ Down 10 Percent From November Peak

A bad start to 2016 for the stock market got even worse.

Stocks plunged Wednesday, bringing the widely watched Standard & Poor’s 500 index down 10 percent from its November peak.

The last time the market had a plunge that big, known as a “correction” on Wall Street, was last August.

Energy and consumer stocks bore the brunt of the selling. With crude oil trading near $30 a barrel, many fear more oil and gas companies will go bankrupt.

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