The stock market fell nearly 1,000 points as the U.S. market opened this morning. As China's market continues to tumble down hill, it will drag down others around the world. This is the biggest drop in the U.S. since 2007 and has caused many to hold their breath as they continue to watch this "Black Monday" unfold.
The fed has already decided to delay an interest hike for 2015, as they are aware of the effect it will have on the U.S. economy. Even though China seems to be struggling, don't feel to bad for them just yet. With their insane gold reserves, renminbi devaluations, and intelligent leadership, they might be making a play for something more stable in the near future. (Gold backed Yuan?)
Watch the CNN report below with China and their economic down-turn.