Markets started the week with more bruising losses, as China's Shanghai Composite plunged over 8 percent—its biggest one-day percentage fall since February 27, 2007.
European stocks also saw heavy losses on Monday morning, as global growth concerns continue to weigh on sentiment. Investors are also nervous that Chinese officials failed to deliver any large stimulus measures over the weekend.
The Dow 1,000-point fall at the open, but the average halved those losses as trading continued.
Our live blog will keep you updated with all the developments.