Both Economically and Politically
Stock markets are crashing around the world, as I write this. China is cited as the culprit — or at least the catalyst. Some $10 trillion has evaporated from the global stock market since a June peak. The DJIA, S&P 500 and Nasdaq indexes continue to drop, now moving beyond 10 percent from that peak, which puts them into correction territory (it takes a 20 percent drop to be defined as a bear market).
And a few minutes following the opening bell of the NYSE on 8/24/15, the Dow lost 1089 points, which has not experienced such a steep loss since October 2008. And it will be the first time in the history of the Dow that it will have dropped a total of 1500 points in three consecutive days. [Read more…]