Stock markets in New York, London, Paris and Frankfurt have fallen sharply as fears of a Chinese economic slowdown continue to haunt investors.
Wall Street’s Dow Jones was nearly 6% lower in early trading after plunges across Europe.
London’s FTSE 100 index was down by more than 6% in afternoon trade, with major markets in France and Germany down by 7% and 6% respectively.
The sell-off hit stocks across almost every sector in New York.
The Dow Jones fell below 16,000 for the first time since February 2014, while the technology-heavy Nasdaq index was trading more than 8% lower in the opening minutes.
Shares in Asia were hit overnight, with the Shanghai Composite in China closing down 8.5%, its worst close since 2007.
Global investors worry about growth in the world’s second largest economy.