Wall Street Hit by Fears Economy Is in 'Danger Zone'

What You Need To Know

• Ed Yardeni said today's selloff is like the '87 crash, when the economy averted a downturn despite investor fears at the time.
• While the S&P 500 pared some of its losses, it was on track for the biggest drop in almost two years; cryptocurrencies reeled from a bout of risk aversion in global markets.
• But the stock plunge is vindicating some prominent bears, who are stressing the risks of an economic slowdown.