Dow Falls More Than 500 Points

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The Dow fell more than 500 points Friday, plunging for a second straight day and hitting a 10 percent decline from its all-time high — the definition of a market correction. 

Investors continue to worry that a stalled Chinese economy could hammer companies and countries around the world.

Apple — which relies heavily on Chinese demand — fell more than six percent. 

"Right now there is a feeling of fear in the marketplace, and all news is interpreted negatively and it's interpreted indiscriminately," Tom Digenan, head of U.S. equities at UBS Global Asset Management, told CNBC.

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