Dow Jumps 300+ as China Market Slides


stock-market-economyThe Dow Jones Industrial Average jumped 330 points early Tuesday as the stock exchange invoked trading circuit breakers for a second day, one day after a roller-coaster session that included a 1000-point drop. European and most Asian financial markets also rebounded strongly Tuesday as China’s stocks continued to slide.

The Shanghai Composite index dropped 7.6 percent, just a day after its biggest loss in eight years triggered worldwide market turmoil.

Beijing’s central bank followed by cutting interest rates and banks’ reserve requirements in hopes of ending the mayhem that erased a combined $5 trillion from global equity markets on Monday.

Inside China, government censors appeared to crack down on editors at the state-run People’s Daily: A day after it referred to the rout as “China’s Black Monday,” the newspaper had no mention of the financial upheaval. Read more at The New York Times.

{Andy Newscenter}


Please enter your comment!
Please enter your name here