U.S. stocks slumped, with the Standard & Poor’s 500 Index falling below its 200-day average, as investors weighed prospects for Federal Reserve interest rate increases and slowing global economic growth.

Q3 was a precarious but productive quarter in the IPO market with 63 deals priced. That compares to 83 in Q2 and 67 in Q1. We say precarious because the markets fluctuated quite a bit with the Russell 2000 down 7.4% during the quarter.