Stocks Tank, Rebound, Slide Again

The Dow Jones Industrial Average slid 589 points to close at 15,873 on Monday after plummeting 1000 points just minutes after New York Stock Exchange opened. The Dow nearly clawed its way back to even by 1 p.m. but then slid again. (The S&P and Nasdaq narrowly avoided closing 10 percent below their 52-week highs.) Fears of a Chinese economic slowdown led the Shanghai Composite index to dive 8.5 percent in what state-run media called “China’s Black Monday.” Markets in Hong Kong, Japan, and Europe all tumbled; a combined $5 trillion was erased from global equity markets in the turmoil.