US STOCKS-Set to open sharply lower, Dow headed below 16,000
* Chinese market falls 8 percent
* Oil hits new 6-1/2 year low
* Nasdaq futures briefly halted
* Futures down: S&P 3.27 pct, Nasdaq 4.95 pct, Dow 3.69 pct (Adds details, updates prices)
By Tanya Agrawal
Aug 24 (Reuters) - Wall Street looked set for another rout on Monday following a more-than 8 percent drop in Chinese shares and a selloff in oil and other commodities, with the Dow set to open below 16,000 for the first time since February 2014.
Stock futures were in a free-fall, with Nasdaq futures halted briefly after hitting a circuit breaker, a step taken by exchanges to reduce volatility and give investors time to assess information.
The S&P 500 and Nasdaq composite indexes were poised to slip into correction territory, or 10 percent off their 52-week highs. The Dow Jones industrial average and the Nasdaq 100 slid into a correction zone on Friday.
S&P 500 e-minis were down 64.5 points, or 3.27 percent, with 1,107,188 contracts traded at 8:43 a.m. ET. Nasdaq 100 e-minis were down 208 points, or 4.95 percent, on volume of 135,401 contracts. Dow e-minis were down 608 points, or 3.69 percent, with 136,791 contracts changing hands. Continuación...