Markets Right Now: Another steep drop pulls Dow down 500

NEW YORK — The latest on developments in financial markets (all times local):
4 p.m.
The Dow Jones Industrial Average plunged 500 points, its second straight drop of that size and its fourth big decline this month.
Longtime market favorites like Microsoft and Amazon took heavy losses Monday. Health care companies also fell sharply.
A measure of small-company stocks fell into a bear market, a decline of 20 percent below their recent peak.
The market is now well into the red for the year and