U.S. stocks slid on Monday, with the Nasdaq falling 2 percent, after ratings agency Standard & Poor's cut its long-term outlook on the United States and another step by China to stem growth reignited worries about the global economy.

The Dow Jones industrial average <.DJI> dropped 229.70 points, or 1.86 percent, to 12,112.13. The Standard & Poor's 500 Index <.SPX> dropped 22.15 points, or 1.68 percent, to 1,297.53. The Nasdaq Composite Index <.IXIC> dropped 54.50 points, or 1.97 percent, to 2,710.15.

(Editing by Kenneth Barry)