Stock Markets Fall as Worries About Global Issues Persist

01-Sep (NY Times) — Keep the seatbelts on.

Stock markets around the world tumbled again on Tuesday, dashing hopes that financial markets would calm down after two weeks of turbulence.

Investors appear to be growing more nervous about the strength of the global economy. China released a weak report on manufacturing on Tuesday, and an influential international policy maker sounded a downbeat note on the outlook for Asian economies.

After steep declines in the stock markets of Asia and Europe, United States stocks also plummeted. The Standard & Poor’s 500 index fell to 1,913.85, down 2.96 percent. The benchmark is now nearly 10.2 percent off its all-time nominal high, putting it in a “correction,” the Wall Street name for such a decline.

As the selling continued, some analysts said it might be a while before the markets recover.

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