Global shares nosedive on China economic woes
Stock markets across the world have fallen sharply as fears of a Chinese economic slowdown continue to haunt investors.
London's FTSE 100 index closed down 4.6% at 5,898.87, with major markets in France and Germany down by 5.5% and 4.96% respectively.
In total, 73.75bn was wiped off the FTSE 100 as a result of Monday's falls.
In volatile trading, Wall Street's Dow Jones fell 6%, then almost recovered its losses before closing 3.6% lower.
At one point it fell below 16,000 for the first time since February 2014, while the technology-heavy Nasdaq index closed 3.8% lower, recovering from an earlier plunge of 8%.
The S&P 500 ended trading 3.9% lower and 11% below its May record, putting it officially in "correction" territory - a fall of 10% or more from its peak.
Shares in Asia were hit overnight, with the Shanghai Composite in China closing down 8.5%, its worst close since 2007.
At its lowest point in the day, the FTSE 100 had lost as much as 6%, wiping some 100bn off its value.
Global investors are worried about growth in the world's second largest economy.
Source
Stock markets across the world have fallen sharply as fears of a Chinese economic slowdown continue to haunt investors.
London's FTSE 100 index closed down 4.6% at 5,898.87, with major markets in France and Germany down by 5.5% and 4.96% respectively.
In total, 73.75bn was wiped off the FTSE 100 as a result of Monday's falls.
In volatile trading, Wall Street's Dow Jones fell 6%, then almost recovered its losses before closing 3.6% lower.
At one point it fell below 16,000 for the first time since February 2014, while the technology-heavy Nasdaq index closed 3.8% lower, recovering from an earlier plunge of 8%.
The S&P 500 ended trading 3.9% lower and 11% below its May record, putting it officially in "correction" territory - a fall of 10% or more from its peak.
Shares in Asia were hit overnight, with the Shanghai Composite in China closing down 8.5%, its worst close since 2007.
At its lowest point in the day, the FTSE 100 had lost as much as 6%, wiping some 100bn off its value.
Global investors are worried about growth in the world's second largest economy.
Source
Last edited by a moderator:
