US stocks deepen losses, Dow Jones drops over 600 points

US stock indices fell on Monday, amid focus on the pandemic's latest developments, concerns about the Chinese economy, and ahead of the Federal Reserve meeting.

The Fed will convene tomorrow to decide on monetary policy and provide clarity over the future of its decision in light of the recent economic data.

The US Treasury Secretary Janet Yellen warned that failure to raise the debt ceiling may lead to delays in critical payments in October.

As for Evergrande, the world's most indebted real estate developer, doubts about the Chinese company's ability to meet its obligations have raised concerns about the integrity of the Chinese real estate and credit markets.

The People's Bank of China has injected about 90 billion Chinese yuan ($14 billion), in attempts to ease global markets' concerns about the world's second largest economy.

WTI crude October futures fell 2.3% or $1.68, and closed at $70.29 a barrel.

Brent November futures fell fell 1.79% or $1.42, to $73.92 a barrel.

As for stocks, Dow Jones fell 1.8% or 614 points, and closed at 33,970, and hit a day high of 34,459, and a low of 33,613.

S&P 500 fell 1.7% or 75 points to 4,357, after hitting a high of 4,402 and a low of 4,305.

Nasdaq fell 2.2% or 330 points to 14,713 points, with a high of 14,841 and a low of 14,530.