2015-16 stock market selloff
The Dow Jones plummeted 588 points over a two-day period, 1 300 points from August 18-21. On August 24, stock markets globally had dropped significantly, erasing all gains made in 2015.
Image source: twitter
Investors got rid of shares worldwide as a result of the growth slowdown in the GDP of China, there was a sharp drop in petroleum prices, the debt default in Greece, the effects of the end of quantitive easing in the US, a sharp rise in bond yields and in June 2016 the UK-EU membership referendum which resulted in a ‘leave’ vote, commonly known as Brexit. By July 2016, the DJIA had recovered and posted record gains.