The plunge in Asian markets sent ripples through the global market as the world reacted to the 9% meltdown in the Chinese stock market.[3] The Chinese Correction triggered drops and major unease in nearly all financial markets around the world.[4]
After the Chinese market drop, the Dow Jones Industrial Average in the United States dropped a staggering 416 points, or 3.29% from 12,632 to 12,216 amid fears for growth prospects, then the biggest one-day slide since the September 11, 2001 terrorist attacks. The S&P 500 saw an even more catastrophic 3.45% slide. Sell orders were made so fast that an additional analysis computer had to be used, causing an instantaneous 200 point drop at one point in the Dow Industrials.[5]