Market Tanking — Dow Off 160

Markets are open in the U.S., and they’re looking ugly to start the week.

The Dow is down 160 point, or 1.0%.  The S&P 500 is down 22 points or 1.4%.

This comes after hawkish commentary from the People’s Bank of China sent the Shanghai Composite into a bear market (i.e. down 20% from its highs).

Later this morning, we’ll get the Dallas Fed Manufacturing Activity report.  Otherwise, it’s quiet in the U.S.

This week, we’ll hear from eight Federal Reserve Officials, who will be giving speeches on monetary policy and the state of the economy.  Everyone will be listening for additional clues on when the Fed may taper, or gradually reduce, it’s stimulative monthly purchases of $85 billion worth of bonds.

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