Stocks slammed after big gains

NEW YORK — A sharp sell-off left the Dow industrials more than 1,000 points lower Thursday, wiping out the gains a day earlier from Wall Street’s biggest rally in two years. “Yesterday’s sharp rally was not rooted in reality, and today’s dramatic selloff is a reversal of that misplaced exuberance,” said Ben Kirby, co-head of investments at Thornburg Investment Management, on Thursday.