US stocks close lower: S&P loses 0.84%

The broader S&P 500 lost 16.69 points (0.84 percent) at 1,972.18, and the Nasdaq Composite gave up 51.82 (1.07 percent) at 4,776.51. "The downside risks for most commodity prices, exchange rates, and stock markets are likely to persist for some time, while growth in many parts of the world, especially in emerging markets, is likely to deteriorate further," said Nariman Behravesh of IHS. "On the other hand, with market valuations now much lower than recent peaks, the equity markets in the dev