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Shanghai Composite Index Drops 7%, American Stock Markets Suffering Drops video



The Chinese economy packs a powerful punch worldwide. Chinese shoppers have proved to be an enticing market for Apple, Burger King, and other consumer-focused giants. However, China is off to a shaky start in the new year, with the Shanghai Composite Index- the Chinese equivalent of the Dow Jones Industrial Average- plunging 7% on Monday. This news comes at the close of another rocky year for Chinese finance. In 2015, the Chinese government had to buy up $230 billion worth of shares to keep their price from tumbling, and it also stepped up heavy fines and imprisonment for people who continued to bet on the market’s failure. With China’s weak opening for 2016, the blow was felt in American stock markets with the Dow Jones Industrial Average, the S&P 500, and the NASDAQ all suffering drops.

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