US stocks plunge on China growth fears
US stocks have sharply fallen amid rising concerns over the slowing economic growth in China.
All three stock indexes fell more than 1% in the afternoon on Monday, the first day of trading.
The S&P 500 SPX, dropped 1.4% with the Dow Jones Industrial Average falling about 1.1%.
Meanwhile, the Nasdaq Composite COMP plunged 1.8%.
The stocks shed after the release of weak economic data from China made investors jittery.
Latest figures show that China’s industrial profits in August witnessed an 8.8% year-on-year decrease, giving rise to the concerns that growth in the world’s second-largest economy is slowing faster than expected.
Meanwhile, European stocks also were down, with the Stoxx Europe 600 index closing down 1.2%.
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