New York, August 24, 2015: As a rout in global markets carry onÂ to become stronger, U.S. stocks opened sharply lower on Monday with the Dow Jones Industrial Average sliding below 16,000 for the first time since February 2014.
The Dow Jones Industrial Average was reduced byÂ 829.79 points, or 5.04 percent, to 15,629.96 shortly after the opening bell. The S&P 500 dropped 91.72 points, or 4.65 percent, to 1,879.17. The Nasdaq Composite Index droppedÂ Â 283.27 points, or 6.02 percent, to 4,422.77.
Reuters said that the New York Stock Exchange invoked a rule saying market makers don’t have to spreadÂ price signalsÂ before the opening bell in an attemptÂ to make it easier and faster to open stocks on a rapidly changingÂ trading day.
In eight years, the Chinese stock markets had their severeÂ day with the benchmark Shanghai Composite Index suddenly fallingÂ 8.49 percent to close at 3209.91 points.
Weak economic data have increasedÂ worries that a drop-off in Chinese growth could cause a global slowdown, it has been reported.
As the Stoxx Europe 600 was down over 6 percent and Germany’s DAX fell 4 percent, European equities also reducedÂ on Monday following previous session’s strongÂ decline.
With the Dow fall sharplyÂ more than 500 points, U.S. stocks saw a heavy fall on Friday as a broad-based heavy sell-off in global stock markets dependedÂ on U.S. market.
Soared by 46.45 percent to end at 28.03 from Friday, The CBOE Volatility Index, often referred to as Wall Street’s fear measure.