NEW YORK (AP) – U.S. stocks are sharply lower as traders worry about weakness in China’s economy.
Materials and mining companies had the biggest declines in midday trading Monday.
The Dow Jones industrial average lost 209 points, or 1.3 percent, to 16,106 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index dropped 32 points, or 1.7 percent, to 1,898. The Nasdaq composite slumped 91 points, or 2 percent, to 4,593.
Copper and gold mining company Freeport-McMoRan slumped 10 percent, the most in the S&P 500.
Alcoa bucked the downward trend, gaining 3 percent after saying it would split in two.
European markets also fell sharply. Commodities company Glencore sank 29 percent.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.11 percent.