Black Monday Meltdown: Here's Why Global Markets Are Panicking Over China

Think of the recent stock market volatility this way: China's economy just jammed on the brakes -- and the rest of the world didn't have its seat belts fastened. That about sums up the reaction in global financial markets to signs that the world's second-largest economy is decelerating at a much faster than expected pace. The signals of deep downturn came in quick succession: First, there was China's surprise currency devaluation two weeks ago, and then at end of last week, data showed productio...