Summary: It was a brutal end of the day for Wall Street as indexes closed at session lows on Thursday. The Dow Jones Industrial Average briefly fell more than 400 points, while the Nasdaq entered a correction after falling more than 10 percent from its 52-week high set in July. New worries over China's economy sparked a fresh wave of selling this afternoon. Reports that China's central bank could devalue its currency further and faster stoked fears over the state of the world's second-largest economy. A 7 percent slump on the Shanghai Composite filtered through to U.S.-listed shares of Chinese companies. Among the worst performers, Chinese e-commerce site Alibaba (BABA) tumbled more than 5 percent to trade at its lowest level since October. TheStreet's Keris Lahiff reports from Wall Street.
