Dow tumbles more than 500 points as Wall Street's fears turn to China

The Dow and the broader US stock market fell sharply early Monday as Chinese real estate conglomerate Evergrande's debt crisis made American investors uneasy.

The S&P 500 (SPX), the broadest measure of Wall Street, opened 1.5% lower, while the Dow (INDU) fell 550, or 1.5%. The Nasdaq Composite (COMP) dropped 1.7% at the opening bell.

Evergrande, which is struggling to manage its $300 billion mountain of debt, was supposed to pay the interest on some of its bank loans Monday, according to Bloomberg. The company will also have to pay interest on two of its bonds worth more than $100 million later this week on two of its bonds, according to Refinitiv.