World stock markets got off to a rocky start in September closing sharply down on fears that China’s slowing economy will hurt economies across the globe.
In the US all the major indices closed down, the second fall of the week, following similar falls in Europe and Asia. The Dow Jones Industrial Average closed down 2.8% at 469 points, the S&P 500 closed down 2.95% and the Nasdaq down 2.95%. US stocks are on course for their worst performance since the end of 2011.
The sell-off came after more signs of weakness in China’s economy. Data on China’s manufacturing sector suggested output slumped to a three-year low in August. US markets closed down on Monday too, ending their worst August in three years.
