The Dow Jones Industrial Average opened to yet another bad day, falling 400 points, or 2.4 percent, shortly after Tuesday's opening bell. Meanwhile, the S&P 500 index dropped 48 points, or 2.5 percent, and futures for the Nasdaq 100 index lost 108 points, or 2.6 percent.
The plunge in U.S. stocks followed the release of weak economic data from China that deepened fears over the health of the world's second largest economy. Markets around the world had rebounded somewhat over the last several trading days, only to take a dive on Tuesday. A senior managing partner at Meridian Equity commented to The Wall Street Journal, "Clearly this is showing us we're not out of the woods by any means."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.
Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.