Davos 2016; Everyone at the World Economic Forum in Davos wants to know what is going on in China. Clearly the markets are wondering the very same, as world equities plunged Jan. 20 and U.S. stocks neared bear market territory.

The short of it is a toxic brew of: the fact that central bank easy money has been artificially buoying markets for some time now, coupled with a slow down in emerging markets (led by China), and a lackluster U.S. recovery. But there are newer reasons for the market turbulence, including a number of companies reporting less-than-stellar earnings. Most important are all the new and conflicting data points coming out of China.

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