Keep an eye on China’s stock market, which opens at 5:30 pacific time. They have tripped their circuit breakers twice this week, with Thursday’s trading halted after only 29 minutes of trading. The circuit breakers were set to trip if there is at least a 7% decline for the day. Regulators suspended the circuit breakers after today’s trading halt, so tomorrow, unless they re-institute the breakers, will be a free-for-all. The yuan is widely believed to be overvalued against the dollar and other currencies, but at least 10%. The government of China is trying to drive an orderly, slow, and controlled devaluation for the yuan, but everyone knows that it is going down eventually, regardless of how hard the government (PBOC – People’s Bank of China) tries to slow its fall. This, along with concerns about the Chinese and global economies, scandals, inflated real estate values, rising rates in the U.S., oil price declines, and more, is punishing Chinese stocks, which in turn, is pressuring other financial markets around the globe, including the U.S. stock market. Tomorrow should be very interesting indeed!