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1. BEIJING/SHANGHAI - Activity in China's factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, hitting global markets and increasing fears that the world's second-largest economy may be heading for a hard landing.

2. Wall Street opened sharply lower on Tuesday after weak data from China heightened fears of a slowdown in the world's second-largest economy and its effect on global growth.

3. NEW YORK - The pace of growth in the U.S. manufacturing sector slowed in August to its weakest in over two years, according to an industry report released on Tuesday.

4. U.S. construction spending rose in July to the highest level in just over seven years as private outlays surged, providing another sign of solid economic momentum at the start of the third quarter.

5. Manufacturing activity in the U.S. expanded at the slowest rate in more than two years in August, dampening optimism over the strength of the economy and fanning hopes that the Federal Reserve could delay raising interest rates till the very end of 2015, industry data showed on Tuesday.

6. The dollar remained broadly lower against the other major currencies on Tuesday, as data pointing to a deepening economic slowdown in China spurred risk aversion, sending Asian equities lower, while investors eyed upcoming data on U.S. manufacturing activity.

7. Oil futures pulled back on Tuesday, as traders cashed out of the market to lock in gains after prices soared almost $10 a barrel over the past three sessions, the biggest three-day surge since 1990.

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Brace for heavy falls Tuesday as fresh gloom about China's economy spreads across global markets.

U.S. stock futures were sharply lower and international markets traded deep in the red.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1) China slows

Stock markets in China ended with more losses after new figures showed the world's second largest economy is losing steam. An official gauge of factory activity fell to a three-year low in August.

Concerns are mounting over the health of the Chinese economy -- which is now posting its weakest growth since the financial crisis -- and head of the International Monetary Fund, Christine Lagarde, warned Tuesday that developing countries should brace for the impact.

2) Oil sinks

The China data weighed on crude oil markets, with prices sliding nearly 4% to below $48 a barrel early Tuesday, after surging in the past three sessions. Hopes that OPEC may finally be willing to cut back on output and a report showing weaker U.S. supplies had helped spur prices higher.

3) Earnings and economics

Dollar Tree (DLTR) is one of a small crop of companies reporting quarterly earnings before the opening bell. Shoe Carnival (SCVL) and H&R Block (HRB) are among the firms reporting this afternoon.

It's a light day for U.S. economic releases, with July construction spending data due out from the Census Bureau at 10 am ET. Canada is expected to confirm it has fallen into recession when it publishes second quarter GDP data at 8.30 a.m. ET.

4) Stock market movers

Watch Netflix (NFLX, Tech30) shares Tuesday. The stock is trading down 4.4% premarket. On Sunday the company revealed a batch of big movies would be removed the internet streaming site as it decided not to renew a distribution deal with Epix.

Amazon (AMZN, Tech30) was another notable premarket mover, down 2.7%.

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What is it? It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.

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What is it? It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.

When? Tentative

Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? At 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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What is it? Canada is unique in that they release fresh GDP data on a monthly basis. A quarterly GDP figure is also released, however it's merely a summation of the monthly data.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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1. U.S. stocks opened lower on Monday after weekend comments from Federal Reserve Vice Chairman Stanley Fischer appeared to keep the possibility of a September rate hike alive.

2. China stocks fell sharply on Monday before recovering much of their losses as regulators cracked down on speculators which Beijing blames for a 40% crash in the country's stock markets since June. The main Shanghai Composite Index fell 3% Monday morning, before recovering some of its losses to close 0.8% lower. However, that still left it more than 12% down for the month of August, following a drop of more than 14% in July.

3. The euro remained modestly higher against the softer dollar on Monday after data showing that euro zone inflation remained low in August, adding to concerns that the European Central Bank may scale up its stimulus program.

4. The dollar remained moderately lower against the other major currencies on Monday, as renewed weakness in equities markets overnight weighed, although expectations for a September rate hike by the Federal Reserve limited losses.

5. Crude oil futures declined on Monday, as traders cashed out of the market after prices scored their biggest two-day percentage gain since 2009 last week.

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