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Mohamed A. El-Erian

Five Facts About the Market Selloff

The age of financial volatility repressed by central banks is ending.
Shock waves from China.

Shock waves from China.

Photographer: Fred Dufour/AFP/Getty Images

The 7 percent rout that compelled China to halt stock trading on Monday, along with sharp losses in European and U.S. markets, marked an inauspicious beginning to the new year for investors.

QuickTake China's Managed Markets