Economics
S&P 500 Falls Most Since November as Chinese Growth Slows
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U.S. stocks tumbled, sending the Standard & Poor’s 500 Index to its biggest drop of the year as a gauge of market volatility jumped the most in 20 months, after China’s economy grew at a slower pace than forecast.
Energy and raw-material companies fell the most among 10 S&P 500 groups. Chevron Corp. and Exxon Mobil Corp. both lost 2.8 percent. Freeport-McMoRan Copper & Gold Inc., the largest publicly traded copper producer, and Newmont Mining Corp. tumbled more than 6.7 percent as commodities slumped to a nine-month low. Sprint Nextel Corp. surged 14 percent after Dish Network Corp. offered to buy the company for $25.5 billion.