US stocks sink as West says ready to punish Syria

27 Aug, 2013

NEW YORK CITY: US stocks plunged Tuesday as the West moved closer to punitive military action against Syria for its alleged use of chemical weapons in a devastating attack on civilians.

Warnings stepped up from the United States, France and Britain that Damascus would be held accountable for the August 21 attack, sparking market worries of a possible broader conflict.

At the closing bell, the Dow Jones Industrial Average was down 170.56 points (1.14 percent) at 14,775.90.

The broader S&P 500 index fell 26.30 (1.59 percent) to 1,630.48, while the tech-heavy Nasdaq Composite lost 79.05 (2.16 percent) at 3,578.52.

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