How China's Stock Market Tumble Is Affecting the US

With China being the second-largest economy in the world, investors around the world are anxious about the major slide in the Chinese stock market.

Read on for more highlights from yesterday's ABC News article ...

1. U.S. Stock Market and Your 401(k)

The major U.S. stock indices, the Dow Jones Industrial Average, S&P 500 and tech-heavy NASDAQ, were all down about 1 percent this morning, which may take a bite out of American retirement accounts.

2. American Financial Companies

Americans are unlikely to be directly affected by financial events in China to any significant degree, according to Barry Bosworth with the Brookings Institution. Still, shares of American financial companies like Citigroup and Bank of America have fallen nearly 2 percent this morning.

3. Trade

In terms of financial risk in trade, China is a major exporter to the U.S., but Canada and Mexico are larger export markets, which matter for American workers, Bosworth said.

But as the second-largest economy in the world, and normally an important stimulus to global growth, the ongoing concern is that China's stock market sell-off is translating into lower stock prices for multinational corporations.

Seth Wenig/AP Photo

Concerned? Time to look into your own “Freedom Account.”

Contact chris@enspheremg.com for your personal account summary.

Mike Giffin, Ensphere Marketing Group

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