A rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China's economy outweighed lower valuations that some earlier saw as bargains.
In a dramatic session, major indexes turned negative in the final minutes of trading after previously climbing almost 3 percent.
Investors cited more worries that a slowdown in China could hobble global growth, even after the country's central bank cut interest rates on Tuesday for the second time in two months.