Chinese stocks suffered a fourth day of carnage, extending a plunge considered to be the steepest since 1996.
25 August 2015
China stocks slumped about 4 percent on Tuesday, touching eight-month lows, as "Black Monday" contagion continued to sweep across global markets, forcing investors to dump shares.
The Shanghai Composite Index opened 6.4 percent lower, but trimmed some losses ending the morning down 4.3 percent at 3,071.06 points.
The blue-chip CSI300 index fell 3.9 percent, to 3,147.76 points.
The Hang Seng index reversed early losses and was up 1.6 percent by lunchtime.
The Hong Kong China Enterprises Index gained 0.5 percent, to 9,646.01
24 August 2015
US stocks closed with the Dow Jones Industrial Average down 588 points, recovering from the shocking plunge of 1,000 points at the opening bell on Monday. The S&P 500 fell 3.9 percent, or over 77 points. The Nasdaq Composite ended the day with a 3.8 percent drop, down nearly 180 points.
Germany’s DAX shed 4.7% percent, finishing below 10,000 for the first time since January. France’s CAC fell 5.4% to 4.4, suffering its worst session since November 2011.
Against the backdrop of a global plunge, the London market closed with the FTSE 100 Index slumping 4.6% to 5.9 on Monday.
Brent crude briefly dipped below $43 per barrel falling to $42.57 at 13:40 GMT. Currently it is trading at $43.54.
US Dow Jones industrial futures are down by more than 600 points, and S&P futures down nearly 60 before opening bell on Wall Street.
Oil prices, including Brent crude, could go down below $40 per barrel for a short time, Russian Economic Development Minister Aleksey Ulyukaev told TASS.
Equity markets in Moscow are in the red with the RTS losing more than 5.51 percent and the MICEX down over two percent.
Russian ruble has fallen to its lowest level against major currencies since February. The ruble is trading at 71.2 against the dollar and 81.78 against the euro.
As of 08:52 GMT, Brent was trading at $43.77 per barrel, down 3.72 percent.
Brent crude has dipped below $44 per barrel amid uncertainty over the Chinese markets, its lowest point since 2009.
On the European markets, London's FTSE is down 2.52 percent in early trading. Germany’s DAX has shed 2.77 percent, while France's CAC index is 2.68 percent lower.
The Russian ruble has hit new lows against major currencies, dragged down by both weak oil and Chinese stocks. The Russian currency was trading near 71 rubles against the dollar and 81.40 rubles against the euro as of 08:22 GMT.
As of 06:17 GMT, Brent oil was trading at $44.07 per barrel, which is a six-and-a-half-year low.