World markets drop after bleak Chinese industry report

Financial Markets Wall Street
A screen above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Tuesday, Aug. 25, 2015. U.S. stocks closed lower Tuesday after falling sharply in the final hour of trading. (AP Photo/Richard Drew)

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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