Dow Tumbles 360 to Open 2016 Market

Worrisome start follows plunge of China's market
By Newser Editors and Wire Services
Posted Jan 4, 2016 8:53 AM CST
Trader Peter Tuchman works on the floor of the New York Stock Exchange in this file photo.   (AP Photo/Richard Drew)

(Newser) – It's a bleak start to the new year on Wall Street Monday morning: The Dow fell more than 360 points at the open after China's stock market suffered a huge plunge of its own. Chinese stocks fell 7%, spooking US investors worried about a global slowdown, reports the Wall Street Journal. The Nasdaq and S&P 500 were down similar percentages. "The rout in China is placing pressure on markets more globally, although it remains to be seen how long the hit to market sentiment will persist," says a note at Investec, per MarketWatch. (Read more Dow Jones stories.)

My Take on This Story
Show results without voting  |