World markets drop after bleak Chinese industry report
NEW YORK (AP) — More signs of weakness in China’s economy are sending global stock markets sharply lower.
The early swoon Tuesday comes a day after U.S. stocks closed out their worst month in more than three years.
The Dow Jones industrial average fell 335 points, or 2 percent, to 16,200 as of 9:35 a.m. Eastern time.
The Standard & Poor’s 500 fell 37 points, or 1.9 percent, to 1,935. The Nasdaq slid 82 points, or 1.7 percent, to 4,695.
Benchmark indexes were down 2.6 percent in Germany and 3 percent in Britain. Japan’s Nikkei fell 4 percent.
An official index of Chinese manufacturing fell to a three-year low last month.
The signs of weakness in China, a major importer of oil, sent the price of crude skidding 4 percent.
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