The drop in the US stock market this week was because of massive drops in the Chinese stock market (and secondary drops in the EU stock market). Compare the 1

The drop in the US stock market this week was because of massive drops in the Chinese stock market (and secondary drops in the EU stock market). Compare the 1 month view of the Chinese market (http://www.bloomberg.com/quote/SHCOMP:IND http://www.bloomberg.com/quote/SHCOMP:IND) to Nasdaq (http://www.bloomberg.com/quote/CCMP:IND http://www.bloomberg.com/quote/CCMP:IND), and then recall that the Chinese market closes 7 hours before the US market opens.