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Dow futures down more than 300 points after China markets halt trading (CNBC Video)

In Europe, the pan-European STOXX 600 was down over 2.6 percent in morning trade with Germany’s DAX slumping over 3 percent. Mining stocks were down by almost 4 percent.

NASDAQ_stock_market_display - Wikimedia Commons

U.S. stock index futures pointed to a sharply lower open on Wall Street Monday, the first trading day of 2016, amid a sharp sell-off in Chinese stocks and heightened geopolitical tensions between Iran and Saudi Arabia.

Feeble manufacturing surveys in China revived concerns over the slowdown in the world’s second largest economy. Fresh manufacturing PMIs on Monday showed a fall to 48.2 in December, from 48.6 in November, contracting for a 10th month and coming in below a Reuters poll forecast for 49.0.

 

Read the full story at CNBC, by Matt Clinch

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