US STOCKS-Wall St skids as China fears rattle investors
* Commodities fall on China demand concerns
* U.S. consumer spending rises more than expected in Aug
* Alcoa jumps after company says to split up
* Indexes down: Dow 1.28 pct, S&P 1.68 pct, Nasdaq 1.96 pct (Adds quote, updates prices)
By Abhiram Nandakumar
Sept 28 (Reuters) - U.S. stocks were sharply down in afternoon trading on Monday, set for their worst third quarter in four years, as investors worried about the health of China's economy and its impact on the timing of a U.S. interest rate increase.
All three major indexes were down more than 1 percent in volatile trading.
The S&P materials sector led the decliners as prices of commodities fell after Chinese data showed an 8.8 percent decline in profits at industrial companies.
Healthcare stocks continued to remain weak since last week, when Democratic presidential candidate Hillary Clinton criticized drug pricing. Continuación...