NEW YORK: World stock markets plunged on Monday, as a near 9 per cent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exit. The Dow Jones Industrial Average dropped more than 1,000 points as Wall Street opened, and the benchmark Standard & Poor's 500 index slid more than 2.5 per cent, a drop that puts it nearly 10 per cent below its record high.
LONDON: Alarm bells rang across world markets on Monday as a near 9 per cent dive in China shares and a sharp drop in the dollar and major commodities panicked investors. European stocks were almost 3 per cent in the red and Wall Street was braced for similar losses after Asian shares slumped to 3-year lows as a three month-long rout in Chinese equities threatened to get out of hand. Oil slumped another 4 per cent, while safe-haven government US an German bonds and the yen and the euro rallied as widespread fears of a China-led global economic slowdown and currency war kicked in.
TOKYO: Asian stocks and oil fell on Monday after Wall Street suffered another bruising blow as deepening concerns over the slowing Chinese economy continued to unnerve global equity markets. The safe-haven yen rallied and key government bonds were bought from the widespread unrest in the financial markets, set in motion nearly two weeks ago when China devalued its currency and generated fears about the state of its economy.
NEW YORK: World stock markets plunged on Monday, after a near 9 per cent dive in China shares and a sharp drop in the dollar and major commodities sent investors rushing for the exits. After dropping more than 1,000 points, or almost 7 per cent, at Wall Street's open, the Dow Jones industrial average eased losses but was still off more than 1 per cent at midday. The Standard & Poor's 500 index was down by a similar margin after the US benchmark earlier dropped nearly 10 per cent below its record.
LONDON: Global financial markets rallied on Friday on hopes that last-minute concessions by Greek Prime Minister Alexis Tsipras would clinch a deal with the country's international creditors and save it from bankruptcy. Stock markets across Europe and Asia rose more than 1 percent, the euro gained and low-rated euro zone bond yields retreated, after a volatile week that saw Greece's banks remain shut following a referendum vote that rejected previous bailout terms and raised chances of a "Grexit" from the euro. US equity futures were up 1.2 per cent, pointing to a higher open.
TOKYO: Asian stocks started Tuesday under a cloud with markets waiting nervously to see how Chinese shares fare later in the session after Monday's slump all but erased risk appetite. The dollar was under pressure as China jitters spurred flows into havens such as the yen, while commodities including oil and copper wilted amid fears of a collapse in demand from China. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent. Tokyo's Nikkei sank 1 per cent, with a stronger yen accelerating the decline.