Black Monday hits China and spreads contagion globally
The Monday Meltdown on global markets entered a new day of worldwide selloffs, extending last week’s downward plunge. Triggering the jitters was a sharp selloff in Chinese shares that wiped out gains for the year as the Shanghai composite saw an 8.5 percent drop, the biggest percentage decline since 2007. Ameera David weighs in.
Then Ameera sits down with Paul Craig Roberts, chairman of the Institute for Political Economy, to continue the conversation on the worldwide stock rout.
After the break, Edward Harrison talks about China to Patrick Chovanec, chief strategist at Silvercrest Asset Management. Reports are that $800 billion has left China in recent months. Patrick tells us whether the Chinese outflow is due to economic fundamentals or capital flight.
And in The Big Deal, Ameera and Edward Harrison talk market and why stocks suffered huge losses.
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