Aug. 31--Stocks on Wall Street opened lower Monday, following markets across the globe, as investors continued to grapple with questions about China's economy and new uncertainty from the Federal Reserve.
The blue-chip Dow Jones Industrial Average was down 157.47, or nearly 1%, to 16,485.54 in early trading, while the broader Standard Poor's 500 was down 15.03, or 0.8%, to 1,973.84. Germany's Dax and France's CAC 40 were both down nearly a percentage point.
The latest dash of uncertainty was added by Fed Vice Chairman Stanley Fischer, who seemed to open the door for an early increase in interest rates in remarks Friday at an economic symposium in Jackson Hole, Wyo.
Fischer said there was a "pretty strong case" for a September rate hike before China devalued its currency earlier this month, but added the devaluation had increased the uncertainty surrounding the moves.
Investors were still reeling from a wild couple of weeks in which China's markets where whipsawed by news of slower growth followed by frantic government attempts to prop up the economy with an array of fiscal and monetary tools. The Shanghai Composite index fell 27% from Aug. 17 to Aug. 26, then rebounded 10% at the end of last week.
On Monday, China's main markets were mixed, with the Shanghai Composite down 0.8%, the Hang Seng up slightly and Japan's Nikkei off more than 1.3%.
