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Chinese stocks tumble, rattling global markets




A Chinese investor uses a magnifying glass to look at his mobile phone screen as he monitors stock prices at a brokerage house in Beijing, China, Thursday, July 9, 2015. Asian stock markets continued to react on Thursday as the Chinese government took measures aimed at stabilizing the market. (AP Photo/Ng Han Guan)
A Chinese investor uses a magnifying glass to look at his mobile phone screen as he monitors stock prices at a brokerage house in Beijing, China, Thursday, July 9, 2015. Asian stock markets continued to react on Thursday as the Chinese government took measures aimed at stabilizing the market. (AP Photo/Ng Han Guan)
Ng Han Guan/AP

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The Chinese stock market stumbled on the first trading day of 2016, and it had a domino effect on global markets.

Trading was halted on the Chinese exchange after losses triggered a new, "circuit breaker." This triggered sharp declines in European and US markets. The Dow, S&P 500 and NASDAQ all ended the day down.

What do China’s market woes mean for everyday Americans?

Take Two put that question to Carl Riccadonna, chief US economist for Bloomberg.

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