NEW YORK, NY - U.S. stock markets plummeted on Monday following China's move to devalue its currency, Beijing's latest step in a tense faceoff on trade with President Trump.

The Dow Jones Industrial Average was down more than 900 points, or 3.5 percent, in its worst one-day drop in 2019. The S&P 500 had fallen 107 points late in the trading session, or 3.7 percent.

If the Dow closes at that level, it would rank as the third-largest, single-day point drop in its history.

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