Stocks Are Crashing In Shanghai

Frank Barbera Jr., Co-Portfolio Manager 7/9/2015

The major U.S. stock indices gaped sharply lower at yesterdays opening, with the S&P 500 opening down 16 points in the first two minutes of trading amid increasing fears surrounding the steepening stock market crash in China and the lack of definitive progress in making much needed funding available to Greece in Europe. Strangely enough, the selloff in U.S. stocks coincided with European stock markets ending their Wednesday sessions materially higher.