The S&P 500 is down 10% YTD. Tough, yes, but not the end of the world.
The China Shanghai Composite index is down 50% YTD. Also down big are the reputations of economists and strategists who called for a decoupling of the U.S. economy from the BRIC economies, and by association financial markets.
We sneeze, they get a cold. The linkage remains.
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