It is a bad start to the year for the Dow Jones Industrial Average, and while it isn’t all China’s fault, they’re getting most of the blame.
The Dow went down 392 points today amid concerns about the whole economic situation in China with the currency and so on. The market was down over 400 in trading today at the height of the selloff. These are the worst four trading days to start the year ever for the Dow.
Earlier, the Chinese markets were hammered so completely that the circuit breakers halted the trading there after just 29 minutes.
Adding to the gloomy atmosphere, George Soros is quoted as comparing this to the debt crisis of 2008. As if we need to be reminded of that bad memory.
So, folks, do you know where your money is …?