US stocks plunged at the opening bell - with the Dow dropping more than 1,000 points and the S&P 500 points in a major correction.
The extraordinary scenes triggered speculation that the sell-off was taking the Dow towards the point where circuit-breakers might cut in to stop trading.
The Nasdaq fell five per cent in the opening minutes, sparking an "automatic pause in trading".
The plunge came amid continuing anxiety about the Chinese government's ability to respond to its economic weaknesses. China's main index sank 8.5 per cent and Xinhua, the official Chinese news agency, called it “Black Monday”.
Oil prices, commodities and the currencies of many developing countries also tumbled on concerns that a sharp slowdown in China might hurt economic growth around the globe, the Associated Press reported.
