Overseas Trading: Second China Halt Sends Global Markets Spiraling

Stocks in China were halted for the second time this week, sending markets across the world sharply lower

Jan 7, 2016 at 8:34 AM
facebook X logo linkedin


For the second time this week, China initiated its emergency circuit breaker system, halting stocks for the day after only about 15 minutes' worth of trading in response to a steep drop in the benchmark CSI300 index. The sell-off occurred after the People's Bank of China (PBOC) set the yuan's reference rate at its lowest point against the dollar since March 2011, according to Reuters. Following the trading halt, regulators announced a curb on the amount of shares prominent shareholders can sell within a three-month window. The disastrous day left China's Shanghai Composite 7.3% lower, while Hong Kong's Hang Seng dropped 3.1%. Elsewhere, Japan's Nikkei ended 2.3% lower, and South Korea's Kospi closed with a 1.1% loss. 

European stocks are trading off in step with Asia, and oil prices are also in focus. Specifically, Brent crude futures dropped to levels not seen since early 2004. Energy stocks are among the top losers as a result, while automakers are also absorbing heavy losses due to the uncertainty out of China. France's CAC 40 and London's FTSE 100 were last seen 2.7% and 2.6% lower, respectively, with Germany's DAX giving back 3.3%.

160107OS

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI