10 things you need to know today: January 8, 2016

U.S. stocks rattled by China turmoil, Obama hosts a town hall meeting on gun control, and more

President Obama and Anderson Cooper.
(Image credit: Pool/Getty Images)

1. U.S. market indexes drop in worst 4-day start to a year ever

U.S. stocks plunged on Thursday, capping the worst four-day start to a year in the three-decade history of the Dow Jones Industrial Average. After fresh signs of economic trouble in China, the Dow lost 392 points, or 2.3 percent, extending its decline since the end of 2015 to 5.2 percent. The S&P 500 index dropped by 2.4 percent, and the Nasdaq by 3 percent. Stocks in China rallied on Friday and Europe posted modest early gains after Chinese government funds bought local shares for the second time this week to boost the country's market after it dropped by 12 percent in four days.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.