Dow Jones and Nasdaq

: The Dow Jones Industrial Average closed down 531 points, or 3.1%, to 16,460 – the S&P 500 lost 3.2% to 1,971 and the Nasdaq closed down 3.5% to 4,706, according to The Guardian. Most major markets around the world also suffered bruising losses as new data suggested Chinese factory activity had slowed to levels last seen in 2009 and added to investors’ fears about the country economy since Beijing devalued its currency last week. All of the main US indices closed down more than 3% on Friday, the fourth consecutive day of falls. US oil prices also crashed down to below $40 a barrel a one point, a level not seen since the financial crisis. The Dow Jones index has lost about 10% from its record closing high on 19 May, mean it is entering a correction – a fall of at least 10% from a recent peak. Related:Stock market falls: four factors stoking global economic fears The dollar fell to a two-month low against the euro and added to speculation that the Federal Reserve may now not raise US interest rates next month, as had been widely expected by economists. (news.financializer.com). As reported in the news.