Black Monday: Dow Falls 1,000 Points, Several Blue Chips Halted

It's officially the second "Black Monday." After worrying pre-market trading, the Dow Jones Industrial Average fell more than 1,000 points to an intraday low of 15,403.00.

Shares of several companies have been halted within the first 10 minutes of trading:

• CVS Health Corp CVS
• Ford Motor Company F
• KKR & Co. L.P. KKR
• UnitedHealth Group Inc UNH
• Compass Diversified Holdings CODI
• A. O. Smith Corp AOS

Major tech names are also getting killed. Apple Inc. AAPL fell below $100 at one point, while Alibaba Group Holding Ltd BABA traded as low as $58.08.

As Zero Hedge pointed out, Deutsche Bank explained the current conundrum perfectly:

"The fragility of this artificially manipulated financial system was exposed over the last couple of days of last week...We've long felt that the only thing preventing another financial crisis has been extraordinary central bank liquidity and general interventions from the global authorities which we still expect to continue for a long while yet."

The real zinger: "[I]f it wasn't for expected intervention and extraordinary central bank policy we would be very bearish as the global financial system remains an artificial construct reliant on the largesse of the authorities.