US stocks sink as West says ready to punish Syria

Specialist James Sciulli works at his post on the floor of the New York Stock Exchange, Tuesday, Aug. 27, 2013. US stocks plunged Tuesday as the West moved closer to punitive military action against Syria for its alleged use of chemical weapons in a devastating attack on civilians. AP

NEW YORK CITY—US stocks plunged Tuesday as the West moved closer to punitive military action against Syria for its alleged use of chemical weapons in a devastating attack on civilians.

Warnings stepped up from the United States, France and Britain that Damascus would be held accountable for the August 21 attack, sparking market worries of a possible broader conflict.

At the closing bell, the Dow Jones Industrial Average was down 170.56 points (1.14 percent) at 14,775.90.

The broader S&P 500 index fell 26.30 (1.59 percent) to 1,630.48, while the tech-heavy Nasdaq Composite lost 79.05 (2.16 percent) at 3,578.52.