2015–16 stock market selloff

Asian and European markets are in turmoil after another significant drop in American stocks. The main US index, the Dow Jones Industrial Average suffered its second 1,000-point loss this week, triggering a worldwide sell-off.

China's Shanghai Composite index closed over 4 percent down, Hong Kong's Hang Seng dipped over 3 percent, and Japanese Nikkei closed over 2 percent lower.

World stocks clawed their way back from two-month lows on Feb. 7, though momentum was weak and U.S. futures suggested Wall Street could lapse back into losses after rebounding from the biggest selloff in six years.

The richest people in the world have lost $ 114 billion due to the sharp drop in US stock markets on Monday, Bloomberg said.

Bloomberg refers to its real-time "list of billionaires" in connection with market quotes of assets.

Among 550 businessmen on the list, 18 people lost more than $ 1 billion on Monday night.

The Capital Market Commission is expected to announce in the early hours of Monday the closure of the Greek stock exchange for at least a week, as financial activity in the country grinds to a halt.