Selloff on world stockmarkets continues on back of China fears
- 9 years ago
Stockmarkets around the world continued to tank on Tuesday following Asia’s early lead, where Japan lost nearly four percent and China also closed in negative territory.
Commodity prices continued their slide down after Chinese data showed manufacturing shrinking at its fastest rate in three years, and services also cooling.
European shares were down two percent by early afternoon, with the biggest losers the big three, London, Frankfurt, and Paris.
After oil’s biggest three-day surge in a quarter-century from the end of last week till Monday, a $10 jump, crude slipped back .
Markets are fundamentally worried about weakness in China that no quantity of good news from elsewhere, like last weeks improved US GDP figures, can dispel. Add to that the IMF’s downgrading world growth forecasts only a few months after saying things looked set fair.
Commodity prices continued their slide down after Chinese data showed manufacturing shrinking at its fastest rate in three years, and services also cooling.
European shares were down two percent by early afternoon, with the biggest losers the big three, London, Frankfurt, and Paris.
After oil’s biggest three-day surge in a quarter-century from the end of last week till Monday, a $10 jump, crude slipped back .
Markets are fundamentally worried about weakness in China that no quantity of good news from elsewhere, like last weeks improved US GDP figures, can dispel. Add to that the IMF’s downgrading world growth forecasts only a few months after saying things looked set fair.