Global markets fell sharply on concerns about Chinese and European growth, but Wall Street failed to follow. The Dow Jones ended down just 13 points to 15,295 and the S&P 500 lost 0.3 per cent to 1,650. The falls were relatively small compared to Asian markets yesterday. Japan's Nikkei led the way down, dropping 7 per cent after a leading report by HSBC showed Chinese manufacturing activity shrank to a seven-month low. The report is viewed by markets as an early indicator of China's economic health. The FTSE 100 saw its biggest one-day fall so far this year, down 2.1 per cent to 6,697. The lead markets in France and Germany matched that fall, the CAC dropped 2.1 per cent and the DAX dropped 2.1 per cent.