Yikes: Dow Drops 1,000 Points

We knew it would be bad, but this bad?

BREAKING: DOW FALLS MORE THAN 6.5%, MORE THAN 1000 POINTS http://t.co/Rcl0uPU0c2 pic.twitter.com/4qfEqDjwg5

— CNBC Now (@CNBCnow) August 24, 2015

Following its worst week since 2011, the Dow Jones industrial average plunged to near historic lows Monday morning. Much of the dive is thanks in part to a disastrous Chinese economy.

A few more devastating numbers:

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As the stock markets opened in the United States, the Standard & Poor’s 500-stock index and the Dow Jones industrial average plunged more than 5 percent. The Nasdaq was down more than 8 percent.

Sarhan Capital CEO Adam Sarhan has captured today's news in four words: "Fear has taken over."

Update: The stock market has quickly gained back half of its losses.