Dow Drops 300 Points On China Growth Fears

The Dow Jones Industrial Average dropped more than 300 points at the open Tuesday as investors fled risky assets such as global equities following another set of weak Chinese economic data. China's official manufacturing purchasing managers' index fell to a three-year low, triggering a wide selloff in stocks in Asia and Europe. The S&P 500 slumped 36 points, or 1.8% to 1,935, inching closer to the low levels last week. The Dow Jones Industrial Average lost 300 points, or 1.9%, to 16,255 at the open. The Nasdaq Composite began the day down 100 points, or 2% at 4,681.