US stock markets fells significantly on Monday due to renewed concerns about the health of the Chinese economy.
The Dow Jones Industrial Average closed down 313 points (1.9%) to 16,002 points, following losses on other markets across the world.
Analysts said anxiety was heightened among investors by official Chinese government statistics showing that the country’s industrial powerhouse companies’ profits plunged 8.8% last month – a much steeper drop than previously thought.
Global stock markets tumbled in August and earlier in September due to concerns of a slowdown in China, the world’s second largest economy. Investors are worried that a slowdown in emerging markets will begin slowing the economy of the US and other western nations. Multinational companies listed in the US and Europe are increasingly reliant on growth in developing nations for future expansion and profits.
Via The Guardian