US stocks open sharply lower following global rout

New York, Sep 1 (IANS) US stocks opened sharply lower on Tuesday as a renewed broad-based sell-off around the world rattled nervous investors.

Tokyo equities dived with its benchmark Nikkei stocks index plunging 3.84 percent on Tuesday amid weak performances in other stocks markets.

Chinese shares slumped for a second day on Tuesday on weak economic data, with the benchmark Shanghai Composite Index dipping 1.23 percent to end at 3,166.62 points.

European stocks also traded sharply lower.

Shortly after the opening bell, the Dow Jones Industrial Average slumped 331.85 points, or 2.01 percent, to 16,196.18. The S&P 500 dropped 35.88 points, or 1.82 percent, to 1,936.30. The Nasdaq Composite Index shed 93.40 points, or 1.96 percent, to 4,683.11.

On Monday, US stocks dropped as recent economic data fueled speculations that the Federal Reserve would begin raising interest rates as from September.

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