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U.S. stocks fell about 1 percent on Wednesday as continued concerns about Greece and the extended selloff in the Chinese market pressured investor sentiment.
The Dow Jones industrial average traded about 150 points lower after dipping more than 200 points as the major averages declined, with the Nasdaq Composite briefly off more than 1 percent as biotechs and Apple plunged more than 1 percent. The iPhone maker was also the worst performing stock in the Dow.
The S&P 500 struggled to hold gains for the year. The index dipped into negative territory Tuesday but recovered in afternoon trade to hold slightly higher for 2015.
"I think we're just realigning the U.S. market with the declines elsewhere," said Peter Boockvar, chief market analyst at The Lindsey Group.