Dow closes off nearly 500 points as Fed speak, China worries rattle markets

U.S. stocks finished sharply lower on Monday as several senior Federal Reserve officials hurt demand for stocks with hawkish commentary, while worries about the burgeoning protest movement in China rippled across global markets. The S&P 500
SPX,
-1.54%
finished down 62.17 points, or 1.5%, to 3,96395. The Dow Jones Industrial Average
DJIA,
-1.45%
closed off 497.57 points, or 1.5%, to 33,849.46. The Nasdaq Composite
COMP,
-1.58%
closed 176.86 points, or 1.6%, lower at 11,049.50.