China’s Black Monday: Panic Grips Global Financial Markets As Stocks Undergo “Bloodbath” of Selling

(The Telegraph) Chinese market plunges 8.45 per cent, triggering widespread selling across Asia which has wiped off more than €5 trillion off global stocks in two weeks….The latest wave of flagging growth indicators is set to force Beijing into drastic action to revive its fortunes, two weeks after authorities stunned markets by weakening the renminbi and setting off an August market rout. There is now a “high probability” that the Chinese central bank will move to slash the country’s main lending rate (RRR), said analysts at Societe Generale….

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