Stocks on Wall Street took a major slide. The Dow closed down 588 points, extending a sell-off that started last week, in large part over concern about China.

FOX Business Network's Ashley Webster reports:

As soon as that opening bell rang on Wall Street, investors began selling. The Dow plummeted by 1,000 points within the first five minutes of the session. That's the biggest one-day point decline ever. Stocks did manage to regain some ground as traders stepped in to buy some beaten down stocks but losses were still high -- both the Nasdaq and S&P losing 4% in the session. And as concerns about China's massive economy continue, analysts say U.S. markets can expect more volatile days ahead on the markets. Buckle up.