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Stocks Fall Sharply as Concerns Over China Persist

Stocks fell sharply Monday, as fresh evidence that China’s economy is slowing added to investors’ fears about the outlook for global growth.

Energy and raw materials producers were among the session’s biggest decliners as commodity prices fell following a report showing China industrial profits fell 8.8% in August from a year ago.

The Stoxx Europe 600 fell more than 2%, dragged down by losses in the auto and mining sectors. Shares in commodities giant Glencore GLNCY -25.14 % PLC sank more than 27% to a new all-time low as the mining company continued to suffer from a slump in commodity prices and concerns over its debt-laden balance sheet.

Investors also focused on Federal Reserve Bank of New York President William Dudley, who said Monday morning the central bank will likely raise rates later this year. Mr. Dudley also emphasized that a rate increase could come at any Fed meeting, including in October. That intensifies the focus on Friday’s nonfarm payrolls report for September, the...