Dow falls 588 points amid market upheaval ← Related Article Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page US stock markets sank in morning trading Monday in a wave of fear that circled the globe after a historic plunge in Chinese stocks. JUSTIN LANE/EPA Peter Tuchman (second from right) worked with fellow traders on the floor of the New York Stock Exchange on Monday. Global markets have been reacting to the economic situation in China and the Dow Jones Industrial average followed that trend, losing 1,000 points in early trading. Scott Olson/Getty Images Traders signaled offers in the Standard & Poor's 500 stock index options pit at the Chicago Board Options Exchange in Illinois. Uncertainty among traders after big losses in the Asian markets caused a sharp drop in the S&P at the open. ROLEX DELA PENA/EPA An investor monitored stock data on an electronic board at a securities brokerage house in Beijing, China. The benchmark Shanghai Composite Stock Index dropped more than seven percent Monday, trading down on fears of a slowdown in the world's second-largest economy. KIMIMASA MAYAMA/EPA A pedestrian looked at an electronic board displaying Tokyo's Nikkei Stock Average (top right) and Asian stock markets (left to right) Hong Kong, Shanghai, South Korea, and Taiwan at the start of the afternoon trade session at a securities office in Tokyo. RALPH ORLOWSKI/Reuters A trader reacted at his desk in front of the DAX board at the Frankfurt stock exchange in Germany. European stocks slumped on Monday, wiping hundreds of billions of euros off leading shares and sending one benchmark index to a seven-month low. INDRANIL MUKHERJEE/AFP/Getty Images Onlookers watched share prices on a screen outside the Bombay Stock Exchange in Mumbai as Beijing's latest intervention failed to restore confidence. OLIVIA HARRIS/Reuters An investor monitored market prices at a brokerage firm in Kuala Lumpur, Malaysia. Asian stocks slumped to three-year lows on Monday as a slide in Chinese equities gathered pace. EVERT ELZINGA/EPA The Dutch stock exchange was heavily in the red in Amsterdam. The AEX-index lost all profits accumulated since the turn of the year and sailed off on the heaviest loss in years. YURI KOCHETKOV People passed information panels displaying exchange rates near a currency exchange office in Moscow. The Russian ruble fell to a seven-month low as stock markets around the world reacted amid concerns over China's economy. Koji Sasahara/Associated Press A worker of Tokyo Stock Exchange monitored stock prices on an electric screen during a trading session in Tokyo. Stocks tumbled across Asia on Monday as investors, shaken by the sell-off last week on Wall Street, unloaded shares in practically every sector. YOSHIKAZU TSUNO/AFP/Getty Images Pedestrians were reflected on a share prices board in Tokyo, where stocks plunged more than three percent in the morning trade session. ALI HAIDER/EPA A Gulf investor reacted while following the stock market developments on a monitor screen at the Dubai Financial Market in Dubai, United Arab Emirates.