NEW YORK (AP) — A rout in global markets spread to the U.S. early Tuesday, wiping out the stock market's gains for the month.
The selling started in Asia following news that the Bank of Japan declined to take any new steps to spur that country's economic growth.
Shortly after 10 a.m., the Dow Jones industrial average was down 117 points to 15,121, a loss of 0.8 percent. JPMorgan Chase fell the most in the Dow, giving up $1.09, or 2 percent, to $53.26.
The Standard & Poor's 500 index fell 15 points to 1,628, a drop of 0.9 percent. All 10 industry groups in the index slumped, led by banks and materials companies.
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