Stock markets around the world plummeted on Thursday, signaling that investors have not gotten over the shock of China’s devaluation last week and remain nervous about the health of the global economy.
The selling began in Asia, punishing Chinese stocks once again. It then moved to Europe, walloping markets in Germany and Italy, and ended with a rush for the exits in the United States.
Along the way, the price of oil traded near six-year lows and currencies of developing countries suffered further pain. ...view middle of the document...
Workers in Tiananmen Square on Friday in Beijing preparing the area for a large military parade on Sept. 3 to commemorate the 70th anniversary of the end of World War II. The devaluation of the renminbi should give a boost to Chinese exporters.China’s Currency Stabilizes After 3-Day SlideAUG. 14, 2015
The devaluation of the renminbi, nearly 2 percent against the dollar, may help revive the Chinese economy.Global Selling Shows Concerns About China’s WeaknessAUG. 11, 2015
“It was a bad day — everything came together,” said Howard Silverblatt, senior index analyst at S.&P. Dow Jones Indices. Mr. Silverblatt noted that the stocks of 76 companies in the S.&P. 500 were down at least 20 percent so far this year, a decline that officially puts them in a bear market. He added that 45 companies were up at least 20 percent.
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The Dow Minute by Minute
Position of the Dow Jones industrial average at 1-minute intervals on Thursday.
By The New York Times
After several years of strong gains, the United States stock markets have