Dow Jones Plunges As Worldwide Sell Off Continues

SAN FRANCISCO (CBS SF) -- The Dow Jones Industrial Average plunged more than 1,000 points when the markets opened Monday morning.

The drop followed huge losses in Chinese stocks. The benchmark Shanghai Composite Index fell by 8.5%, its biggest margin in 8 years.

After the 1,000-point slide, losses were cut in half, but volatility continued to spike at all-time highs.

KCBS's Jason Brooks said the stock market has gotten "extremely frothy over the past years. No one knows when it's going to stop."

As of 7 a.m. PST, the Dow was down around 740 points.

On the bright side, analysts say this may be a buying opportunity for bargain hunters.

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• Dow Jones