The Dow Jones Industrial Average was down by as much as 1,089 points Monday as global markets continue to respond to slowing growth in China, CNBC reports.

As the morning progressed, stocks recovered and the Dow was down 250 points around 10:30 a.m. Eastern time.

Investors are anxious after a big sell-off in China and the Shanghai composite index lost 8.7 percent overnight, its biggest one-day decline since 2007. Chinese media were calling Monday's big sell-off "Black Monday."

"Regardless of what the Chinese government and PBoC might be saying and doing, they are currently learning a lesson that many have learned before them, namely you can only fight against market forces for so long before you end up losing," Alastair McCaig, IG market analyst, said in a note Monday morning. 

Europe followed China's decline with their indexes being down by about 5 percent.

Analysts are calling the recent declines of U.S. markets as bad luck, a "momentum meltdown," or possibly even the first signs of a global recession, USAToday reports.

Last week the Dow tumbled more than 1,000 points and is being triggered by China. China's economy, the world's second largest, is slowing more than many investors had thought. This is causing fears of a global economic relapse which would lead to sinking corporate profits in the U.S. and the rest of the world.

McCaig noted that August is usually a quiet month for markets as investors enjoy the last few weeks of summer, Fox Business News reports. This year, it sure has not been quiet. 

Technology stocks were hit especially hard, according to The Guardian. Facebook was down 14 percent at one point Monday and Apple was down 11 percent. 

As of 11 a.m. Eastern, the Dow was down over 350 points or 2.24 percent, the NASDAQ was down over 100 points or 2.38 percent and the S&P 500 was down about 50 points or 2.48 percent.