THE INTERPRETER: U.S. Stocks Drop, S&P 500 Headed for Correction Amid Global Rout - The S&P 500 slid 3.8 percent to 1,896.99 at 9:49 a.m. in New York, with the benchmark down 11 percent from its May all-time high. The gauge pared a drop of as much as 5.3 percent. The Dow Jones Industrial Average lost 669.73 points, or 4.1 percent to 15,790.02, its steepest drop since November 2011. The Nasdaq Composite Index slid 4.5 percent to its lowest since October after earlier losing as much as 8.8 percent : Bloomberg Business