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Today, all of this fear culminated in a huge market sell-off - one that's being referred to by some folks on social media as another #BlackMonday.
Here's a look at what's happening with the stock market crash heard around the world...
How Did Global Stock Markets Do Today, by the Numbers
- Global markets today were bad enough to raise the fear index by 67%. Britain's FTSE 100 finished today down 288 points, or 4.67%, at 5,898. That's 17% off its recent record high, reported The Guardian - its sharpest decline since 2009.
- The pan-European Stoxx 600 had its worst day since the end of 2008. It closed 13% lower than the record it reached in April - its worst one-day drop since 2011.
- The German DAX Index sank almost 5%, down 22% from its peak in April of this year. According to Bloomberg, the DAX was one of the biggest gainers at the beginning of 2015, which will make it one of the worst hit due to its exposure in China.
- France's CAC 40 closed down 6.5%, reported Investing.com - a six-month low and the biggest daily loss since October 2008.
- Spain's IBEX lost 5.01%, hitting a new six-month low.
- Japan's Nikkei 225 index also finished at its lowest level since Feb. 23, dropping to 18,540. The index suffered a double-whammy when it also realized its biggest one-day drop in more than two years, wrote NPR. It plunged over 4.6%.
- Australia's ASX 200 saw its worst one-day fall in four years, wrote ABCNews, shedding more than 4%, or $64 billion, in value.
- Crude oil plummeted to below $38 per gallon, its lowest price since 2009. Meanwhile, West Texas Intermediate dropped below $40. These are levels comparable to 2009...