The Dow Jones Industrial Average today (Monday, Aug. 24) plummeted a whopping 1,000 points at market open. Markets were able to recover somewhat, but still finished deep in negative territory. The Dow today closed down 588.47 points (-3.58%); the S&P 500 fell 77.68 points (-3.94%); and the Nasdaq lost 179.79 points (-3.82%).
Today's stock market rout followed last week's unenviable record as the worst for stocks in four years...
Money Morning Technical Trading Specialist D.R. Barton appeared on CNBC World Sunday night, where he predicted today's DJIA "bloodbath."
"[The Shanghai Composite's downturn] could drag U.S. markets down another day," Barton said. "There's nothing more bearish than an oversold market that stays oversold. I don't see us rising back up to old levels anytime soon."
Watch the video to see Barton's technical breakdown predicting where the Dow Jones Industrial Average must go before this sell-off ends - including a key level he's watching for Apple stock (Nasdaq: AAPL)...
A 25-Year Depression? Jim Rickards, who once served as the CIA's Asymmetric Threat Advisor, for years has been warning Americans about threats to the U.S. economy everyone else has ignored. In this exclusive Money Morning interview, Rickards explains why these threats could send America into a 25-year depression. To watch this must-see interview, click here.