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The fund had been expected to include the Chinese yuan currency into its supplementary foreign exchange reserve assets on January 1, 2016.

Particularly with uncertainty about the Chinese currency, “people are saying this is risk, and we step away from the market“. “Even then, the dependent question mark over growth will linger”.

European stocks fell into a correction on Friday, with a dismal week for the market rounding off with downbeat data from China and Greece facing a snap election.

Strategists and traders, noting the lack of major U.S. economic news on Thursday, said the drop in stocks was also likely tied to programmed selling, which came after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average.

In Europe, the FTSE 100 index of leading British shares was down 0.8 percent at 6,472 while Germany’s DAX fell 1.1 percent to 10,800. Heating oil fell 4.1 cents to close at $1.518 a gallon.

The DAX is some 16 percent below a record high of 12,390.75 set in April and at its lowest level since January.

In the Netherlands, a majority of lawmakers also backed the new Greek rescue after a heated debate in which Prime Minister Mark Rutte was attacked for reneging on an election pledge to not approve another bailout for Greece.

Greek Prime Minister Alex Tsipras leaves his office in Athens.

Interrupting their holidays for the second time this summer to cast ballots on a Greek rescue, lawmakers in the Bundestag lower house approved the rescue plan by 453 votes to 113.

Having been outperformed by their larger peers earlier in the session, small-cap stocks roared higher in afternoon trade, with the CSI 500, Shenzhen Composite, and tech-heavy ChiNext indices all finishing with gains in excess of 2%.

Discussions of economic issues in policy circles often suffer from a “which way is up?” dilemma; it’s not clear what the problem is that needs to be solved.

If the yuan is not included into the basket next year, China will have to wait another five years for the next review.

PetroChina Co. paced losses for energy companies as oil extended its decline from the lowest close in more than six years.

U.S. stocks closed lower after a choppy session Tuesday as investors digested a mixed bag of quarterly results and an upbeat report on home construction in July. The consensus was for $4.77 per share.

And now the People’s Bank of China has joined the parade. However, the stronger dollar over the past year constitutes a headwind for net exports and a drag on growth.