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US, global stocks fall sharply on more signs of weakness in China's economy

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NEW YORK — More signs of weakness in China's economy are sending stocks and the price of oil sharply lower.

The 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 16,193 as of noon Eastern time.

The Standard & Poor's 500 fell 37 points, or 1.9 percent, to 1,935. The Nasdaq slid 73 points, or 1.5 percent, to 4,695.

Benchmark indexes were down 2.4 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 7 percent.

PHOTO: A man looks at an electronic stock indicator of a securities firm in Tokyo, Tuesday, Sept. 1, 2015. Asian shares fell Tuesday as gloomy manufacturing data from China and weak investment figures in Japan augured further uncertainty for investors after a brutal August. (AP Photo/Shizuo Kambayashi)
A man looks at an electronic stock indicator of a securities firm in Tokyo, Tuesday, Sept. 1, 2015. Asian shares fell Tuesday as gloomy manufacturing data from China and weak investment figures in Japan augured further uncertainty for investors after a brutal August. (AP Photo/Shizuo Kambayashi)

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Photo Gallery:
PHOTO: Trader Michael Milano works on the floor of the New York Stock Exchange, Tuesday, Sept. 1, 2015. More signs of weakness in China's economy are sending global stock markets sharply lower. (AP Photo/Richard Drew)
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