China's 'Black Monday' Sends Global Stock Markets Tumbling

06:06

August 24, 2015

An investor gestures in front of screens showing share prices at a securities firm in Hangzhou, in eastern China's Zhejiang province on August 24, 2015. Shanghai shares nosedived 8.49 percent on August 24 as Beijing's latest market intervention failed to restore confidence, with concern mounting about the stalling economy (STR/AFP/Getty Images)

Markets around the world plunged today, following more bad news from China. The Shanghai index fell by 8 and a half percent today. It's the biggest one-day drop since 2007, and brought the market back to where it was at the beginning of the year.

Major European markets all fell on the news, and Wall Street opened with a thud: the Dow-Jones Industrial Average dropped more than 1000 points within minutes of the opening bell.

Here & Now's Jeremy Hobson talks with Diane Swonk, chief economist at Mesirow Financial in Chicago, about whether there's an end in sight.

Guest

Diane Swonk, chief economist with Mesirow Financial. She tweets @DianeSwonk.

This segment aired on August 17, 2015.