China turmoil sends global shares tumbling again

(From Reuters)

Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by 7%, igniting fears of competitive devaluations across Asia.

China trading halted after shares plummet more than 7 per cent

Less than half an hour after the market opened, Chinese stock trading was suspended for a second time this week.

Brent crude prices skidded over 5% to an almost-12-year-low of $32.16 LCOc1, with worries over weaker demand from China adding to a persistent drag on prices caused by oversupply and near-record output levels.

European stock markets followed Asia lower, with the pan-European FTSEurofirst 300 index .FTEU3 down 2.3% and the euro zone’s blue-chip Euro STOXX .STOXX50Eindex falling 2.5%. Read More



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