NEW YORK: Global stock markets fell on Monday as slowing factory activity in China and Europe added to worries about weaker global growth and Apple shares dropped, while the yen briefly hit a seven-year low after Moody's cut its rating on Japan.

Oil prices rebounded after hitting five-year lows, lifted by data suggesting that tumbling prices may have started affecting drilling activity in the fast-growing US shale oil industry.

On Wall Street, Apple shares dropped 2.7 percent and the stock was the most actively traded on Nasdaq. On Wall Street, the Dow Jones Industrial Average fell 35.39 points, or 0.2 percent, to 17,792.85, the S&P 500 lost 11.81 points, or 0.57 percent, to 2,055.75, and the Nasdaq Composite dropped 45.67 points, or 0.95 percent, to 4,745.96.

MSCI's global share index was last down 0.6 percent, and European shares were also down 0.6 percent. Emerging market shares tracked by MSCI fell 1.8 percent.

World oil prices are down 40 percent since June, largely on abundant supply. OPEC last week declined to cut production to raise prices. But the data suggesting that lower prices may have started to affect drilling activity in the US shale oil industry could affect supply.

Brent crude fell as low as $67.53 a barrel, its lowest since October 2009, before picking up to $71.08, up 93 cents. US crude oil was up $1.22 at $67.37.

The Russian ruble was down as much as 8 percent from Friday's Moscow close, though its losses were cut after what traders said may have been intervention by the central bank.