Wall Street ends down after China rate cut fails to calm nerves

``"You didn't have the snap back you would have expected to reverse a move like yesterday's. People are still nervous about overseas and what might happen tonight. Nobody wants to sit around and see what happens," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "Our fundamentals are not nearly as bad as those in China, so it would be logical to see us rally. But we're still beholden to events in China."... The dollar also gave up much of its gains from earlier in the day. Wall Street trading was volatile and the S&P 500 ended down 1.4 percent after a late selloff following a gain of as much as 2.9 percent earlier in the day.''