The rout in stock markets has intensified, bringing down currencies and commodities, after more grim data from China renewed worries about global growth.
Last week a preliminary reading for a key Chinese purchasing managers' index (PMI) fell to a near six-and-a-half-year low of 47.1 in August, below a Reuters forecast of 47.7, underscoring persistent sluggishness in country's vast factory sector.
This came after Beijing's unexpected move on August 11 to devalue the yuan further unnerved a local stock market that was already frail following weeks of volatility over the previous two months.
Shares around the world have tumbled over the past week, along with commodity prices, as investors scramble for safety amid growing worries about Chinese demand.
Wall Street recorded its biggest trade volume day of the year on Friday, capping its worst week in four years. The blue-chip Dow Jones Industrial Average and tech-heavy Nasdaq fell into correction territory after losing 3.12 and 3.5 percent respectively. The S&P 500 ended 3.19 percent down on Friday.
In early trade on Monday, stock markets in Asia swooned further to hit fresh multi-month lows.
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