Black Monday: Stock Markets Collapse Amid Global Sell-Off
The drop was the Dow's biggest since 2008 and even though the index recovered some of the losses, the Dow was still down over 400 points as of late morning.
The Standard & Poor's 500 index also fell into "correction territory," meaning that it's down 10% from a recent peak.
The global sell-off was triggered by growing concern over a slowdown in China and the Federal Reserve's non-stop creation of money called "quantitative easing" which devalues the dollar.
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