Asian markets continue weak

The week started off on the wrong foot for Asian stocks, typically they're down 2-3%. This has caused American futures to fall, the Dow is down 58.

China has a major power shortage caused by a coal shortage. The Shanghai Exchange is down 5% today (yes, I said down 5%) to 4500 because of the coal shortage. In addition China is getting hit with a major snowstorm in the mid region. The decline in their stock market is based on business being negatively impacted by the lack of power. In addition, they're down over 25% from the peak just a few months ago. Analysts fear their market will fall further as the market is over-bought after almost doubling last year. These problems can flow thru to the US. Every day the US imports from China almost $1B making China the largest holder of US treasury bonds.