Dow Jones drops over 450 points

On Tuesday, the Dow tumbled over 450 points after news emerged of a weakening Chinese economy. China’s official manufacturing purchasing managers index fell to a three-year low, affecting both Eastern and Western stock markets. Both the S&P 500 and NASDAQ have fallen again, the Nikkei is down over 700 points, and the DAX is down almost 250. This has been a trend ever since China decided to lower the renminbi’s daily fix to the dollar last month, resulting in the Dow’s 1000-point drop last Monday.