At the opening bell on Wall Street the Dow Jones Industrial index plummeted as much as 1000 points in the first minutes of trading.

Later it corrected to 785 points down. The Nasdaq has already dropped 8 percent. The S&P 500 has sunk 4.95 percent.

The grim data was predictable, as before the opening the Nasdaq 100 Index contract dropped 5 percent reaching its daily loss limit. Companies like Apple and Netflix also suffered from a massive sell-off, sinking at least 5.7 percent amid the panic triggered by Chinese stock markets collapse.

Dow futures plummeting more than 800 points has allowed The New York Stock Exchange to apply Rule 48 for the Monday stock market open, according to Dow Jones.

The stock market bubble looks to have officially burst.

Follow the carnage here.

As we reported in this video from January that a major stock market crash was likely in 2015, along with possible solutions.

Wall St

SEE ALSO: China’s stock market crashes another 8%

SOURCE