Investors are bracing for an incredibly ugly and volatile day on Wall Street today as China closed to their own version of a “Black Monday” and the Dow dived over 900 points at the opening bell. Oil Prices plunged below $40 a barrel. At this moment we are down 6% and have lost 1000 points on the DOW.
Experts agree that the market in China, the uncertainty on the interest rate and the effect of cheap oil are causing this slide. Many are stating that there must be something more happening to cause this type of market descent.
China’s market last dropped this low in 2007. And is down more than 40% in the last two weeks. This is being called a Market Crash by most of the financial community.