Stocks Hit Worst Day in Months after China's Plunge
Global stocks are down Friday after the U.S. stock market had its worst day in 18 months.
Investors are concerned about low oil prices and China's plunging stock market. They're also worried over whether the Federal Reserve will raise interest rates.
Others say it's just a market correction, which is a normal part of the stock cycle.
"Well I guess the real question is where do we go from here," U.S. equities strategist Sam Stovall said. "We've gone 46 months without a decline of 10 percent or more, which is very long compared with the 18-month average."
"The stock market traditionally has volatility, we've actually experienced a very limited amount of volatility in the past several years," he continued. "And now I think investors are getting unnerved because we are getting back to normal."
Concerns about China are especially weighing on the markets. Chinese stocks have plunged in recent weeks.
Disappointing economic data today brought another report of falling business activity.