Not catestrophic, but bad. Very Very bad.
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Why did the Dow Jones Industrial Average face such a huge rout? Blame China. This morning, mainland Chinese stocks cratered nearly 7% before trading was suspended. Global markets remained on alert after Chinese factory activity fell for the 10th consecutive month, renewing concerns about the world’s second-largest economy and whether its massive stimulus efforts and currency manipulation are enough to facilitate export and domestic demand.
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Hell of a mess Sounds like a lot of companies have tanked because of this. I wonder how much worse it will get tomorrow and beyond.
Quote
Why did the Dow Jones Industrial Average face such a huge rout? Blame China. This morning, mainland Chinese stocks cratered nearly 7% before trading was suspended. Global markets remained on alert after Chinese factory activity fell for the 10th consecutive month, renewing concerns about the world’s second-largest economy and whether its massive stimulus efforts and currency manipulation are enough to facilitate export and domestic demand.
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Hell of a mess Sounds like a lot of companies have tanked because of this. I wonder how much worse it will get tomorrow and beyond.
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