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Big Losses Overnight: China & Japan

While the Dow has opened higher today, overnight the Chinese stock market crashed a whopping 7.6% and the Japanese market crashed about 4% or 733 points.  Those are the world's second and third largest economies by most measures.

Hundreds and hundreds and hundreds of billions of dollars have changed hands and so far these past few weeks have seen over 5 trillion dollars in market value evaporate worldwide.  Stocks will rally temporarily as bargain buyers think they'll get deals.  They don't know what's coming.

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