Wall St. reverses early gains to end lower

NEW YORK (Reuters) - A strong rally on Wall Street evaporated and turned into losses on Tuesday, as concerns about China's economy heavily outweighed lower valuations that some investors earlier saw as bargains.

Based on the latest available data, the Dow Jones industrial average <.DJI> fell 205.71 points, or 1.3 percent, to 15,665.64, the S&P 500 <.SPX> lost 25.43 points, or 1.34 percent, to 1,867.78 and the Nasdaq Composite <.IXIC> dropped 19.76 points, or 0.44 percent, to 4,506.49.

(Reporting by Caroline Valetkevitch; Editing by Nick Zieminski)