The Dow Jones Industrial Average DJIA, +1.38% closed off session lows, but still recorded a triple-digit loss. U.S. stocked tumbled at the open and remained lower throughout the session on the heels of a rout in European and Asian markets.
– It's a bleak start to the new year on Wall Street Monday morning: The Dow fell more than 360 points at the open after China's stock market suffered a huge plunge of its own. Chinese stocks fell 7%, spooking US investors worried about a global slowdown, reports the Wall Street Journal. The Nasdaq and S&P 500 were down similar percentages. "The rout in China is placing pressure on markets more globally, although it remains to be seen how long the hit to market sentiment will persist," says a note at Investec, per MarketWatch.