A global stock sell off and other forms of ‘financial carnage’ are in the news today which is being called ‘Black Monday’:
New day of carnage for financial markets amid global sell-off
August 24, 2015
Global markets entered a new day of carnage Monday amid a continuing worldwide sell-off, extending last week’s meltdown and stoking new fears over how far financial markets will drop.
The Dow Jones industrial average plummeted more than 1,000 points, or more than 6 percent, at its 9:30 a.m. open, its worst start since the global financial crisis, before recovering to a 600-point loss around 10 a.m. The biggest drop for the Dow, an index of 30 large companies, was 777 points in September 2008.
The dismal opening marked a steep continuation of last week’s free fall. The blue-chip index plunged more than 500 points on Friday, capping its worst week since 2011 and entering what Wall Street calls a correction, having fallen 10 percent from its May peak.
The sell-off touched every industry, wiping out gains in rapid order after a year of mostly steady trading. Some of America’s biggest companies have shed tens of billions of dollars in market value in only a few days, with no signs of when the bleeding could stop.
The Standard & Poor’s 500, a broader look at the market, fell 4 percent, to 1,895. S&P 500 companies lost more than $1 trillion in market value last week. http://www.washingtonpost.com/news/business/wp/2015/08/24/new-day-of-carnage-for-financial-markets-amid-global-selloff/
Problems in and with China are part of this: ....