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For Markets, A Bad Start To The Year

An investor sits in front of a screen showing stock market movements in a stock firm in Fuyang, east China's Anhui province on January 4, 2016. Trading on the Shanghai and Shenzhen stock exchanges was ended early on January 4 after shares fell seven percent, the first time China's new "circuit breaker" intervened to curb market volatility. (STR/AFP/Getty Images)
An investor sits in front of a screen showing stock market movements in a stock firm in Fuyang, east China's Anhui province on January 4, 2016. Trading on the Shanghai and Shenzhen stock exchanges was ended early on January 4 after shares fell seven percent, the first time China's new "circuit breaker" intervened to curb market volatility. (STR/AFP/Getty Images)

Stock markets started the New Year with some steep drops. In China, stocks fell more than 7 percent, forcing the market to shut down early.

Bloomberg reports it was the worst start to the year for China stocks ever. The Dow Jones industrial average was down more than 400 points or 2.4 percent in the morning, the S&P down 2.1 percent and Nasdaq down 2.7 percent.

Here & Now’s Meghna Chakrabarti looks at what’s happening with Jill Schlesinger of CBS News.

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