Last Friday, a "flash crash" hit Chinese stocks trading on U.S. exchanges. China's $440 billion equivalent to Amazon, Alibaba, dropped 7% in just four minutes.
Those stocks tried to recover early in the week but are now back at the levels hit last Friday.
On the surface, it looked like a small market "blip," or hiccup. But the truth is, this was nothing less than a ferocious salvo of fire in a war, just as surely as if it'd been two destroyers at sea blasting away at each other.
It's a different kind of war, though - economic war.