The first week of 2016 is almost in the books, and it hasn't been pretty for the stock market. It's been so bad that both the S&P 500 and the Dow Jones industrial average have posted the worst first four days to start a year in their histories.
The S&P 500 has lost 4.9 percent of its value in the first four trading sessions of the year, losing $864 billion of its value. The Dow has lost 5.2 percent of its value; it's now down more than 10 percent from its recent high back in May.
The triggering event appears to be a selloff in the Chinese stock market. Yesterday, China's market closed after 30 minutes of trading, allegedly due to a problem with circuit breakers. But that wasn't enough to stanch the losses on Wall Street