DeKALB | The stock market took a tumble Tuesday, experiencing its biggest drop since reopening after Sept. 11, 2001.

Around 2 p.m. Tuesday, the Dow Jones industrial average dropped 200 points in one minute. The industrial average fell more than 500 points before seeing a slight recovery and closing down 416 points.

The dip comes after the volatile Chinese stock market closed down 9 percent overnight. Durable goods orders also saw a major drop.

“Durable goods are goods that last at least three years,” said assistant chair of the NIU department of economics Carl Campbell.

Campbell said losses in durable goods and the Chinese market combined to trigger the drop.

“Slowdown in the Chinese market can lead to slowdown in the US economy,” Campbell said.

Associate economics professor Neelam Jain also said China is related.

“The markets are so global today,” Jain said.

Finance professor Gerry Jensen said a number of people were expecting a correction in the market.

“There was a lot of concern about housing slowdown and oil prices going up,” Jensen said.

As far as the overall effect of the sudden drop, Jensen said “Most economists are saying a recession is unlikely.”

Jensen predicts the market will move sideways in reaction to all the recent events.

“The day-to-day movements of the market is like a coin flip,” said finance instructor Ted Moorman.

Moorman said the suicide bomb attack at a U.S. embassy in Afghanistan during Vice President Dick Cheney’s visit may have contributed.

Moorman said the drop may not be as significant as it seems and to not pay too much attention to it.