Overseas Trading: China Stocks Plunge, Pacing Global Sell-Off

Concerns about the state of China's economy are hitting markets across Asia and Europe

by Alex Eppstein

Published on Aug 24, 2015 at 8:20 AM

It was another brutal day for Asian markets, with China's Shanghai Composite dropping 8.5% -- and wiping out all of its 2015 gains -- to notch its biggest single-day percentage plunge since 2007. Fears of an economic slowdown ramped up, even as Beijing gave local government pension funds the green light to invest in equities.

Meanwhile, Hong Kong's Hang Seng dropped 5.2%, and South Korea's Kospi gave back 2.5% to close at a two-year low. Finally, the Japanese Nikkei fell 4.6% as a stronger yen weighed on exporters, and as Economics Minister Akira Amari warned that China's turmoil "may spread" to other regional economies.

The sell-off in Asia is weighing on European bourses, which are sharply lower at midday. Also contributing to the turmoil across the pond is oil's ongoing slump. At last check, London's FTSE 100 is off 3.7%, the French CAC 40 is down 4.2%, and Germany's DAX has skidded 4.7%.

150824overseas


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


With This Lithium Stock, It Will Be Better to Be Too Early Than Too Late
Click to continue to advertiser's site.
American Airlines Drops on Jobs Update
American Airlines said it will reduce management and support staff by 30%
June Kicks Off With Slew of Economic Data
June begins with another round of retail earnings
With This Lithium Stock, It Will Be Better to Be Too Early Than Too Late
Click to continue to advertiser's site.