I think the one thing that's going on here is that people are saying, uh-oh, the Chinese economy might be slowing more than we thought and the government is having a hard time stimulating it again.

I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.

At some point, people may decide that the U.S. stock market has fallen enough. After all, the U.S. economy seems to be getting better, that what happens in China is not going to have that devastating effect on car sales here or how many people buy Apple phones or what happens at - how many people shop at Wal-Mart.

Nobody really knows what the market is going to do, but it sure looks like we are going to have a lot more volatility.

China's stock market is not very big. And yet when stock market has a bad day in China, it seems, Europe has a bad day and then we have a bad day.

If the government can't get the economy moving again, they have a lot of fundamental problems.

I think it was seen as a symptom that the Chinese leadership may be really scared about their economy.Why would you want to depend more on exports if you're a country that has a stated policy of relying less on exports and more on consumer spending, domestic spending?