The Shanghai Composite Index dropped 7% on Monday following a rocky year for Chinese finance. In 2015, the Chinese government had to buy up $230 billion worth of shares to keep their price from tumbling, and it also stepped up heavy fines and imprisonment for people who continued to bet on the market's failure. The Dow Jones Industrial Average, the S&P 500, and the NASDAQ all saw drops in early morning trading on Monday.

James Valles reporting