5 Things You Need To Know About Black Monday
Here are the five things you need to know about what is now being called ‘Black Monday.’
1. China sees more losses than ever before. Traders were hoping Chinese authorities would step in over the weekend to support the markets. But it has now fallen nearly 38% since June.
2. Stock market movers - Apple, Netflix suffer: Many U.S. stocks look poised to start the week deep in the red. Apple is down more than 4% in premarket trading, while Netflix is down more nearly 7%. Facebook is trading about 4% lower.
3. Cheap oil and other commodities are weighing heavily on many emerging markets, with Russia, Brazil, and Venezuela among the biggest losers.
4. International markets plunge: All major European markets opened down on Monday. It was all misery for other Asian markets again, with all major regional indexes closing in the red.
5. Friday market recap: The stock market took a dramatic plunge Friday.
This article originally appeared on money.cnn.com
Over to you
Which is the worst economic crisis ever? Why is the Chinese economy crashing? What effect will the Yuan devaluation have on consumer prices in The United States and other countries around the world?
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