What happened so far:
Monday: China fell 7%, market suspended.
Today: China fell 7%, suspended. STI -73.80. Dow futures -400.
Comment: Chinese government intervention in the stock market.. might not be that good after all.
Downside: Higher possibility
The onus for restoring the oil price back to an equilibrium lies on the shoulders of countries like the U.S., a top Goldman Sachs analyst told CNBC.