U.S. Stocks Tumble as China Slowdown Deepens Concerns on Growth

[marmar]

(Bloomberg) U.S. stocks joined a worldwide selloff, after equities’ worst month in more than three years, amid continuing concerns that China’s slowdown will weigh on the global economy.

The Standard & Poor’s 500 Index slid 2.2 percent to 1,927.96 at 10:05 a.m. in New York, following the benchmark’s biggest monthly slide since May 2012. The Dow Jones Industrial Average sank 402.15 points, or 2.4 percent, to 16,125.88. The Nasdaq Composite Index lost 2 percent.

“The problem is, as much as China is the catalyst for this, it’s also that we’re seeing weakness in fundamentals here,” said Matt Maley, an equity strategist at Miller Tabak & Co LLC in New York. “A lot of company earnings were hurt by China in the second quarter and it’s only gotten worse. People are losing confidence with the whole situation there breaking down, not just in the stock market but in data as well.”

Equities dropped in Asia, with the Shanghai Composite Index slumping as much as 4.8 percent, after manufacturing reports pointed to a deepening Chinese economic slowdown. ....................(more)

http://www.bloomberg.com/news/articles/2015-09-01/u-s-index-futures-drop-after-s-p-500-s-worst-month-since-2012

[GummyBearz]

1. I'm glad hedge funds are booking massive losses for their 1% counter parts

Thanks, Bush!

[whatthehey]

2. Good. Another buying opportuniity and DCA aid

How long did the last "it's the big crash!!!" gloat from doomers last? 3 days maybe? I'm hoping this lasts a bit longer as it takes me a while to ACH funds from savings to the trading account.

[marmar]

3. You mean, how long was the last (and current) one interrupted by central bank intervention?