Dow Falls Nearly 400 Points, Worst Start to the Year in History – Soros Warns of 2008-Like Crisis
by Jeff Berwick
Dollar Vigilante
We warned 2016 was going to be a bloodbath in the markets but even we didn’t think it would happen this quickly.
Chinese markets are now 13 percent down for the year, and the entire Chinese exchange system is looking increasingly dysfunctional.
On Monday, the Shanghai index fell 7% and then shut down. Three days later, the Shanghai exchange opened for about 15 minutes, plunged 7% and was shuttered yet again.
Even with these losses, though, Chinese stocks are still fantastically overvalued on a Price/Earnings ratio basis compared to other major stock markets. China’s bloodletting could still drip crimson for weeks or months – along with the rest of the world.
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Source: http://financialsurvivalnetwork.com/2016/01/dow-falls-nearly-400-points-worst-start-to-the-year-in-history-soros-warns-of-2008-like-crisis/?utm_source=rss&utm_medium=rss&utm_campaign=dow-falls-nearly-400-points-worst-start-to-the-year-in-history-
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