Stocks were under pressure Monday as concerns over China’s property bubble roiled global markets ahead of the Federal Reserve’s upcoming policy meeting. 

The Dow Jones Industrial Average plunged 586 points, or 1.7%, while the S&P 500 index and the Nasdaq Composite index declined 1.69% and 1.99%, respectively.

Chinese real estate developer Evergrande's shares tumbled more than 15% Monday amid worries the company will not be able to make a debt payment later this week.

Some market watchers have called Evergrande China’s "Lehman Brothers moment," drawing comparisons to the collapse of the U.S. investment bank, which began the 2008 financial crisis. ... Read More: FOX Business