The Dow Jones industrial average plunged 1,000 points at the opening bell on Wall Street, extending “the losses of last week, already the worst for the stock market in four years.” A small bounce has the market down 600 as of this writing.
The Chinese economy, the second largest in the world, has investors nervous after the Chinese currency was devalued a few weeks ago.
Meanwhile, President Obama is heading to Vegas after his vacation on Martha’s Vineyard.
Here’s a photo of the first family returning. They don’t look happy.
This morning the president will meet with probable presidential candidate and handsy Veep Joe Biden and then this afternoon will fly out to Vegas to address pressing issues facing America like climate change.
“In the afternoon, Obama departs for Las Vegas and a speech to the National Clean Energy Summit. The president is expected to outline his climate change policy, a major theme for the administration in the months ahead.”
Also hanging out at the Clean Energy Summit is Senate Minority Leader and Nevada Senator Harry Reid. “It will be very educational for everyone,” Reid said in a phone interview. “Theses are issues that are important to the nation.” Just don’t look at your 401K.
And of course, no presidential trip would be complete without a fundraiser. Obama will attend a fundraiser for the Nevada State Democratic Party during his brief visit to the Silver State.