|| By FITSNEWS || Stocks in China took another brutal beating on Monday, setting off a chain reaction in global markets – one threatening the New World Order’s latest artificially inflated equity bubble
The only difference between this time and 2008? The central banks have no more money to print, no ability to lower interest rates any further, no trillion-dollar “stimuli” … nothing they can do to stop the bleeding, in other words.
Although that might actually wind up being for the better … you know, given the results.
Anyway, while you were sleeping China’s CSI 300 was down 8.8 percent, its ChiNext index was down 8.1 percent and the Shenzhen Composite was down 7.7 percent – representing the biggest one-day bloodbath since 2007.
China’s biggest market – the Shanghai Composite – was down 8.5 percent, putting it nearly 40 percent down for the year.
Meanwhile Europe’s Stoxx 600 plunged by 5.3 percent – its biggest one-day drop since 2011.
“China driven macro panic,” one analyst told Reuters.
“Very serious,” a Deutsche Bank executive told Bloomberg.
In pre-market trading on Monday, Dow Futures were down by as much as 600 points and Nasdaq futures were down by nearly 200 points.
And that’s after last week’s brutal 1,000-point drop, the Dow’s worst week in four years.
This is gonna get very, very ugly, in other words …
UPDATE: Yikes. U.S. stocks pummeled …