US stocks plunge more than 2% on Fed

US stocks plunged on Thursday, continuing a global markets rout spurred by the Federal Reserve’s plans to cut stimulus and more bad news in China’s manufacturing and banking sectors.

At the closing bell, the Dow Jones Industrial Average was down 2.34 percent. The broad-based S&P 500 fell 2.50 percent and the tech-rich Nasdaq Composite tumbled 2.28 percent.