China’s bad news sends global stocks into a tailspin

The turbulence with China’s economy has boiled over again Monday with Wall Street getting hammered. The Dow was down 1,000 at one point before closing down 588 points. The S&P 500 ended in correction territory. 

It was a wild day in the markets. And more of this mayhem seems likely tomorrow — or within the next few hours, depending on the time zone you are in and the stock market you are following.

It seems the big correction that people had been warning about for a while is finally happening, and I don’t like it. This stock market is not a fun place to be these days, at all. And for anyone who does significant trade with China (like around where I am at the moment), it’s worrisome.