Global Market: Very bad signals from global markets, huge fall in American markets

Very bad signals from global markets. Nikkei fell 5% in Japan. Rest of Asia markets down 2-3%. Huge fall in American markets. Dow Jones fell 500 points amid trading in the range of 900 points. There was a huge decline in Nasdaq, it fell 2.3%. Small cap stocks took a beating, Russell 2000 fell by 3%. Investors worried due to weak data. Selling pressure in all sectors.