Dow Dives 400 Points

Dow Dives 400 Points

The Dow declined 400 points, while the S&P 500 lost 2.2% and the Nasdaq dropped 2.8%. “Fears of a crash landing in China’s economy sent stocks diving around the world on Monday, the first trading day of the year.”

The Shanghai Composite plummeted nearly 7%. The latest trigger was a “new manufacturing survey that fell to 48.2 in December following two months of stabilization.” Even though the manufacturing report was disappointing, it’s just the latest sign of a slowdown in China.

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