US equities move sharply lower

US equities came under severe pressure as some disappointing data led to concerns about the outlook for the U.S. economy. The major averages on Wall Street showed substantial moves to the downside. The tech-heavy Nasdaq plunged 405.25 points or 2.3 percent to 17,194.15, the S&P 500 tumbled 75.62 points or 1.4 percent to 5,446.68 and the Dow slumped 494.82 points or 1,2 percent to 40,347,97.