On Monday, August 24th, Chinese stock markets fell by 8.5%, creating a major crash in the Shanghai Composite. Investors have called this day China's 'Black Monday' because of the dent it has left in China's business as well as the consequences it has caused for the global economy. The crash was caused by many factors including the staggering amount of people investing in the Chinese stock market, suffering businesses with high stocks and prices, margin calls, and the sudden selling of stocks by these same investors. The stock market crash has had damaging effects on billionaires and global markets. Although some markets seem to be in recovery, the crash could be seen as a sign of a bigger problem in China.