Markets

Market craziness: What you need to know

Markets around the world plunged Thursday after a sharp sell-off in Chinese stocks renewed fears about the health of the global economy.

To catch up on what happened overnight and why U.S. and global markets are so volatile right now, read the stories below:

A trader works on the floor of the New York Stock Exchange.
US stock indices plummet amid China worries

* Our live blog with minute-by-minute coverage of market developments in Europe.

George Soros
Soros: It's the 2008 crisis all over again

* The billionaire investor's warning that a Chinese currency devaluation was rocking the rest of the world added another dimension to the market's unease.

Dennis Gartman
Gartman: It's definitely a bear market this time

* Noted investor and newsletter writer Gartman said a bear market had "begun in earnest globally" amid the turmoil in China and declines in oil.

Chinese laborers repair an oil pumping unit at Huabei oil field.
US oil settles down 70 cents, at $33.27 a barrel

* Oil fell to 12-year lows, as geopolitical concerns were overwhelmed by the reality that the market is awash in excess supply.

Traders work on the floor of the New York Stock Exchange.
Saut: How long the stock selling stampede may last

* One of the most successful market strategists of recent years says the markets appear to be in "free fall."