US STOCKS-Wall St pares losses but still down sharply
* Chinese market falls 8 percent
* At one point, Dow down more than 1,000 pts
* Oil hits new 6-1/2 year low
* Nasdaq futures briefly halted premarket
* Indexes down: S&P 2.8 pct, Nasdaq 2.78 pct, Dow 2.59 pct (Adds details, changes comment, updates prices)
By Tanya Agrawal
Aug 24 (Reuters) - Wall Street pared some losses on Monday after the Dow Jones industrial average lost more than a 1,000 points in volatile trading following a steep drop in Chinese shares and a selloff in oil and other commodities.
The Dow, which was down 325 points in mid-morning trading, has never lost more than 800 points in a day.
With Monday's selloff, the Nasdaq composite joined the Dow in sliding into correction territory. An index is considered to be in correction when it closes 10 percent below its 52-week high. Continuación...