It was an ugly start to the week for stocks, with the main indexes notching sharp losses Monday. Today's broad weakness continued last week's selloff and was sparked by a confluence of factors, including concerns the Fed has waited too long to cut rates and the collapse of the carry trade in Japan.
The selling in global markets started late last week after disappointing manufacturing data and a softer-than-expected July jobs report caused concern that the Fed is behind the ball on rate cuts and that a recession could be looming.
