China's Shanghai Composite Index Slides 6% on Currency Worries

China's Shanghai Composite Index plunged more than 6% and other Asian markets also declined as investors appear to show a delayed reaction to news that China's market regulator would allow market forces to play a greater role in determining stock prices. It was the biggest decline for index in 3 weeks. Home Depot (HD) is out with earnings and that came in right on target at $1.71 a share. Revenue at the home improvement retailer was better than expected. Home Depot is also raising its profit and sales forecast for 2015. American Apparel (APP) is warning that it may go out of business. It said that is business and cash position have deteriorated so badly that it's not sure it can stay in business. American Apparel shares have fallen 87% this year. Housing Starts for July are reported today. Wabash National (WNC) meets with investors and Patriot Coal seeks approval of its bankruptcy plan.