China chomps into Nasdaq, US opens 8% lower

August 24, 2015 19:11

Just in: Nasdaq opens 8 per cent lower. The US stock index futures screamed lower on Monday, with Dow futures tumbling more than 700 points, as fears surrounding the health of China's economy multiplied.

CNBC reports that the The New York Stock Exchange is invoking Rule 48 for the Monday stock market open, Dow Jones reported. The rule allows NYSE to open stocks without indications. "It was set up for situations like this," said Art Hogan, chief market strategist at Wunderich Securities. It was last used in the financial crisis.

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