The "Ghost Ship" Leading the Markets Now

China finally hit the fan last week, resulting in the worst opening week of trading in history. The Dow Jones Industrial Average dumped 1,079 points (6.2%) to close at 16,346.45. The S&P 500 collapsed by 122 points (6%) to end the week down at 1922.03, and the Nasdaq Composite Index plummeted by 363.78 points (7.3%) to 4643.63. The MSCI World Index lost 6% as markets around the world joined in the disaster - led by China, where stocks fell so quickly that regulators shut them down on Thursday after a mere 29 minutes of trading. Then they realized that doing so only made matters worse. While the major U.S. market averages are flirting with a 10% correction, the reality is that most of the market is already trading in bear market territory. The average S&P 500 stock is down 22.6% according to Bespoke Investment Group. Here it is... Tags: 2016 stock market , Chinese stock market , Chinese stocks , credit cycle , Dow Jones Industrial Average , Oil Prices , U.S. stock market 2016 To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and visitors become smarter, more confident investors. Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The "Ghost Ship" Leading the Markets Now appeared first on Money Morning - We Make Investing Profitable .
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