The raging China bear market is finally tightening its grip on the U.S. stock market, and it may only get worse as large domestic companies with big sales to the country come under pressure.
S&P 500 vs. China ETF Tuesday (Through 2pm ET)
These two are a mirror image. That wasn't the case before.
This China ETF, which contains the largest Chinese stocks that trade in Hong Kong, is off 15 percent in one month. The S&P 500 is down only 1 percent.
If history is any guide, odds are that the decline for U.S. stocks should catch up.