U.S. stock index futures fell sharply on Monday as alarm bells rang across world markets following a more-than 8 percent drop in Chinese shares and a steep fall in commodity prices.
* A sharp decline at the open could tip the S&P 500 and Nasdaq composite indexes into correction territory - meaning stocks, at their lows, are 10 percent off their 52-week highs. The Dow Jones industrial average and the Nasdaq 100 slid into a correction zone on Friday.
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