U.S. stocks fall sharply amid concerns over retail trading frenzy

NEW YORK, Jan. 29 (Xinhua) -- U.S. stocks tumbled on Friday as retail trading frenzy rattled investors.

The Dow Jones Industrial Average plunged 620.74 points, or 2.03 percent, to 29,982.62, the first time the 30-stock gauge has closed below the 30,000 mark since Dec. 14. The S&P 500 fell 73.14 points, or 1.93 percent, to 3,714.24. The Nasdaq Composite Index shed 266.46 points, or 2.00 percent, to 13,070.69.