1. Chinese shares plunge by most since 2007
The Shanghai Composite tumbled nearly 9% on Monday, the biggest one-day drop since February 2007, on investor disappointment that Beijing held back from implementing fresh measures over the weekend to support stocks after markets fell 11% last week.
Chinese equities have been under heavy selling pressure in recent weeks amid fears over China's slowing economy and worries that Beijing may allow the yuan to continue to depreciate.
Financial markets have been roiled since China devalued the yuan on August 11, sparking a selloff in equities, commodities and emerging-market assets.
2. Selloff continues in European markets
In Europe, Germany's DAX crashed almost 3%, France’s CAC 40 tumbled 2.7%, while London's FTSE 100 sank 2.5%, as fears of a China-led global economic slowdown spooked traders and rattled sentiment.
Last week, European equities logged their worst week in four years.
3. Wall Street set to open sharply lower
U.S. equity markets pointed to a sharply lower open as fears surrounding the health of China's economy multiplied.
The Dow futures were down 380 points, or 2.3%, the S&P 500 futures dropped 43 points, or 2.15%, while the Nasdaq 100 futures plunged 149 points, or 3.54%.
The Dow and S&P 500 suffered their worst day since 2011 on Friday, falling into correction territory.
4. Oil prices sink to new lows
Oil prices sank to levels not seen since the peak of the global financial crisis in 2009, as steep declines on China's stock market rattled investors' confidence.
New York-traded oil futures fell below $39-a-barrel for the first time in more than six years, while London-traded Brent prices struggled below $44, as worries about slowing demand from China and a glut of supply drove down prices.
5. Emerging market currencies tumble amid China turmoil
Emerging market currencies slumped on Monday amid a broad based exodus from riskier assets.
The Turkish lira was lower against the dollar, with USD/TRY hitting highs of 2.986, not far from last Thursdays record highs of 2.999.
The Russian ruble fell to its lowest levels since January against the dollar, with USD/RUB jumping 2.87% to 71.13.
The Indian rupee fell to its lowest level since September 2013 on Monday, with USD/INR rising to 66.7.
Meanwhile, emerging Asian currencies fell to multi-year lows, with the Malaysian ringgit falling to its lowest in 17 years. Indonesia's rupiah also hit 17-year lows, while the Taiwan dollar and the Thai baht fell to their lowest levels since 2009.