This is not pretty.
Also, as investors face margin calls (to pay back borrowed money used to purchase stocks) they are being forced to sell other assets.
Commodity markets in China traded to their daily down limits in metals and agriculture.
Is Real Estate the next asset to be sold?
And on a global scale, investors are moving away from risk:
We have been cautious for some time now (underweight equity assets) and continue to be inclined to remain that way until we get a better sense of how the dust will settle.
Scott Tomenson,CIM Managing Partner, Chief Investment Strategist