Dow slides more than 500 points as economic concerns flare

New York City. Markets around the world continue to be volatile following political uncertainties in America Britain and China

The yield on the 10-year Treasury fell to 1.61 percent from 1.64 percent late Tuesday.

The recent weak data has shaken investor faith in the strength of the domestic economy, which had shown relative resilience in the face of slowing global growth.

Japan's Nikkei 225 slipped 0.5%, South Korea's Kospi fell 2% and the Hang Seng in Hong Kong dipped 0.2%.

The EIA's Weekly Petroleum Status report showed crude oil inventory increasing 3.104 million barrels following an increase of 2.412 million barrels. The S&P 500 lost 1.8 percent to 2,887, while the Nasdaq fell 1.6 percent to 7,785, leading large tech companies in the red.

Bond prices rose as investors searched for safety.

The Stoxx Europe 600 fell 1.3%.

The Russell 2000 is down 40.85 points, or 2.7%.

OCTOBER CHILL? Stocks have gone cold in October as trade worries dampen economic growth prospects.

More news: Kante back in training ahead of Chelsea's trip to Lille

October could turn out to be more volatile than usual after a relatively calm September. "Then throw in impeachment discussions and protests in Hong Kong, and we have a "sell first and ask questions later" market on our hands", said Ryan Detrick, senior market strategist for LPL Financial.

Halloween looks to have come early this year for global markets, with investors having to endure a shocker of a start to October as fears over the state of the USA and global economies and escalating trade war concerns created the ideal storm for equities. Tuesday's decline was set off after a worse-than-expected report on America's manufacturing sector.

The fear is that weakness in manufacturing around the world will spill over into other areas of the economy.

US stocks tumbled to the lowest since August after another disappointing report fueled fears that the American economy is slowing.

Another key indicator due this week is Thursday's report on the services sector.

Other factors behind the drop included fresh worries over a no-deal Brexit after British Prime Minister Boris Johnson's latest plan drew a tepid response from Brussels and anxiety over potential new United States tariffs on Europe following a World Trade Organisation ruling on subsidies for Airbus that cleared the U.S. to impose new levies. Many investors believe that falling below such moving averages means the indexes are likely to fall further. The Fed's next policy meeting will be held at the end of the month. A week ago, markets were seeing it closer to a coin flip's chance.

Regardless of the overall fears Wall Street remains upbeat on the consumer, with the following stocks leading the pack of the Dow Jones in the third-quarter. The company also reported a solid increase in new home orders.

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