China Markets Plummet

Photo by Rafael Matsunaga

Tough global economic times continue apace both in Europe and Asia this week with Greece’s stability still in question and China’s markets teetering.

Late Monday afternoon the Shanghai index fell at least 8.5% just before the close of the day’s trading, which represent the largest drop in the market since the Great Recession.

European markets responded soon after opening with drops of more than a point in early trading which almost assured Wall Street would follow suit.

With the price of oil and other key commodities remaining at relative lows, downward pressure on global markets has some analysts raising concerns about second Great Recession sparked by rare deflationary forces not seen in 40 years.