Dow Plunges 1000 Points at Opening [VIDEO]

The Dow Jones Industrial Average dropped 1000 points minutes after the opening bell Monday thanks to fears about China’s economic slowdown. The index rebounded slightly since then but is still well within negative territory. Earlier in the day, the Shanghai Composite index dived 8.5 percent in what the state-run Xinhua New Agency 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.