Stocks worldwide continued to slide in the first trading day of 2016, after a sell-off in China prompted markets to close early. The sell-off was triggered by a bleak economic outlook in China, partly exacerbated by weakness in the country’s currency, as well as the escalation of Middle East tensions, according to the New York Times.

As markets slid, the stocks of several local business also plunged.

California Resources Corp. of Los Angeles fell 13 percent in trading on Monday to close at $2.03. Culver City’s NantKwest, a clinical-stage immunotherapy company, dropped 9 percent to close at $15.75 a share.