American Public Media’s show Marketplace put it best when host Kai Ryssdal began the show when they said:
Any lingering doubts you might have had that this was a global economy should be gone by now… Even before traders hit the floor of the New York Stock Exchange, you know which way the arrows were going to go, you just didn’t know where things would land before the closing bell rang. Listen.
Today’s fall was the worst since the attacks on 9/11 and affected markets worldwide all because the Shanghai Stock Exchange fell by almost 9% last night. The main market indices in Euronext lost at least 2% today. Australian indices lost more than 3%. The Dow, Nasdaq and the S&P 500 all lost at least 3% with Nasdaq almost approaching 4%. Analysts are not sure whether this was a one day thing or the beginning of a “major market correction” but only time will tell.
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