• US stock market daily report (August 24, 2015, Monday)

    At the opening bell on Monday, the Dow Jones Industrial Average (DJIA) plunged more than 1,000 points - setting a historical, first time ever drop of that proportion. Traders on Wall Street huddled on the sidelines amidst the heavy carnage. The big board was all red as investors were left in awe as they lost $1.8 trillion since Q1 2015.

    Todays plummet by the Dow easily surpassed the Flash Crash of 2010.

    Into early afternoon trading session, the Dow clawed back from its historical loss to host a loss of only 123 points. After tanking by 350 points at the opening bell, the NASDAQ recouped its heavy losses, down only 21 points into early afternoon trading.

    The S&P 500 regained its composure after shedding over 100 points at the opening with a loss of only 19 points into the afternoon. The S&P has moved into correction mode today, its first time since 2011.

    Following the broad based early morning stock selloff on the Street, the VIX - the CBOE Volatility Index - surged to its highest level seen in more than six-and-a-half years. The VIX hit an intraday high at the beginning of the trading day, of 53.29 - striking its highest reading since January 21, 2009.

    Investors will remain on edge following the bloody carnage today, that was a follow up from last weeks market plunge.

    The slaughter of the New York Stock Exchanges is reaction to global fears about China's economic slowdown and implications it can have on economies around the world. Chinese equities have already surrendered all of their gains for 2015. With failed expectations for the People’s Bank of China to take some action over the weekend to support the financial system, the markets simply reacted with the massive selloff.

    Contributed by Millennium Traders
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