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Oil has dropped below $40 a barrel for the first time since the end of the global economic crisis.

As if China wasn’t worrying investors enough, the odds of a Fed rate hike in September seems to have lowered. “This is about growth“. The Nasdaq crumbled 6.8% while the S&P 500 sank 5.8%.

The stock market’s steep decline this week has pushed the Dow Jones industrial average into what is known as “correction” territory.

Equities continued to slide across the globe Friday after China released its weakest manufacturing data since the global financial crisis, which accelerated losses in riskier assets.

Manufacturing unit manufacturing on the earth’s second-largest financial system shrank at its quickest price this month in greater than six years, fueling considerations that China’s sudden slowing could have far-reaching results across the globe. The new bout of...

Relatively few Chinese are invested in the stock market, and the vast majority of Chinese companies still have access to financing.

It said in a note: “We believe demand and supply fundamentals remain solid and expect prices to recover further once markets have digested the first Fed move”.

Many analysts had been betting on a rate hike when Fed officials next meet in September given sustained strength in the world’s largest economy.

The self-proclaimed socialist Sanders is packing in listeners.