Energy shares led the decline after the sharp drop in China's main stock index, while oil slipped below $70 a barrel on increased worries about global energy demand.
The Shanghai Composite index <.SSEC> fell nearly 7 percent to a three-month low on fears that China's government is trying to moderate economic growth and choke off speculation in its stock market by tightening bank lending.
In Monday's session, the Dow Jones industrial average <.DJI> fell 47.92 points, or 0.50 percent, to end at 9,496.28. The Standard & Poor's 500 Index <.SPX> shed 8.31 points, or 0.81 percent, to 1,020.62. The Nasdaq Composite Index <.IXIC> declined 19.71 points, or 0.97 percent, to close at 2,009.06.
NYMEX-NEW YORK, Aug 31 (Reuters) - U.S. crude oil futures ended below $70 a barrel Monday afternoon as a sharp fall in Chinese equities spurred worries about demand and economic recovery in commodities and global stock markets.
On the New York Mercantile Exchange, October crude
CBOT-SOYBEANS - September
Fell 3 percent, taking a breather from last week's strong gains, spooked by prospects that Chinese state-owned companies may be allowed to terminate derivative contracts with some foreign banks that provide OTC commodity hedging services.
CBOT-SOYOIL - September
Pressed by huge first-day September deliveries and ample cash supplies. Falling crude oil adds to bearish tone.
REGIONAL EQUITIES-BANGKOK, Aug 31 (Reuters) - Stock indexes in Singapore and
Indonesia fell to around a one-week low on Monday, weighed down by losses in big-caps and financials such as Oversea-Chinese Banking Corp (OCBC), Telkom Indonesia and Bank Rakyat.
Singapore's index <.FTSTI> dropped 1.4 percent, ending just above the lowest level since Aug. 25 hit during the day, with OCBC
