Wall Street dives as global stocks melt down, Dow Jones drops 348 points

NEW YORK, New York - U.S. stocks dived on Wednesday mirroring moves on global markets, while the dollar gained amidst uncertainty triggered by the downgrading by Fitch of the AAA credit rating held by the U.S.

On Tuesday Fitch lowered its rating from AAA to AA+, citing concerns about governance over the past 20 years.

"Sometimes it's healthy to have this digestion in the market, as it brings down valuatio