(Yicai Global) March 10 -- China's stock markets started lower again this morning, following a slip in the American markets amid fear over an oil price crash.

The Shanghai Composite Index opened 0.83 percent lower at 2,918.93, while the Shenzhen Component Index began 0.82 percent lower at 11,016.92. The ChiNext Price Index, which tracks growth enterprises listed in Shenzhen, started at 2,083.2, down 0.47 percent.

US stock markets plummeted yesterday as oil prices slid rapidly following a March 6 meeting in Vienna between the Organization of the Petroleum Exporting Countries and its allied members, where the parties failed to reach a consensus on production cuts.

The Dow Jones Industry Average fell 7.79 percent to 23851.02 yesterday, while the Nasdaq plunged or 7.29 percent to 7,950.68 and the S&P 500 Index slumped 7.6 percent to 2,746.56, triggering a level one circuit breaker and halting trade for 15 minutes.