Stock markets are on high alert, reports say, after the DOW Jones plummeted over 1,000 points this past week -- the worst week since 2011. Bob Seidenschwartz with SG Long & Co. said people are wondering what China has to do with this decline.

"When China gets indigestion, so does the rest of the world. So when you couple that with European slowdown, the U.S. economy is growing more slowly, and then you hear this coming out of China about the evaluation on the Yuan," Seidenschwartz said. "It's always the issue: Can you trust the information economically that you're getting?"

Seidenschwartz said there’s reason to be cautious that there may be more of a slowdown taking place in China, and was the initial trigger.

"You saw a lot of selling, momentum, retail...Would I call it a panic? No," Seidenschwartz said. "If this continues for several days, I would tell the public that this is creating some great opportunities for those that seek out good companies with good balance sheets."

Seidenschwartz said the U.S. was due for a "healthy normal correction that hasn’t taken place." Considering the recent spikes in the market, Seidenschwartz said he’s curious to see what will happen in the upcoming week. As far as balance, Seidenschwartz said "we’re still recovering from 2008," however, the U.S. has made a lot of progress overall.

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