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After weak Chinese economic data ignited fears of global growth and sparked a selloff in stock markets across the world, Wall Street opened sharply lower Monday.
The Dow Jones industrial average sank 347 points, or 2 percent, as of 9:35 a.m. ET. The Standard & Poor’s 500 index lost 37 points, or 1.8 percent, and the Nasdaq composite gave up 112 points, or 2.2 percent, to 4,895.
Earlier, Mainland Chinese shares fell 7 percent, triggering a new circuit breaker that hated trading, after surveys showed factory activity at the world’s second-largest economy shrank sharply in December.
Adding to the investors’ worries, China’s central bank fixed the yuan at a 4-1/2 year low.
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