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The Standard & Poor’s 500 index lost 13 points, or 0.6 percent, to 2,083 and the Nasdaq composite fell 29 points, or 0.6 percent, to 5,030.

The People’s Bank of China reformed the exchange rate formation system on August 11 to better reflect market development in the exchange rate of the Chinese yuan against the US dollar.

The US stock market has rebounded slightly following an early trading plunge in the wake of a big drop in Chinese stocks. Minutes after the opening bell Monday, the major indices tumbled wildly, making Friday’s 530-point sell-off in the Dow look like a minor blip, but...

It also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5%.

Hong Kong fell 1.53 per cent, or 347.85 points, to finish the day at 22,409.62 – its lowest point since May 2014 – taking it into a bear market after a more than 20 per cent slump from its April peak. The Nikkei 225 index ended day down 0.9% at 20,033.52 points....

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

China’s CSI300 index was up 1.6 percent and the Shanghai Composite Index had gained 0.6 percent. An estimated 80 percent of transactions on Chinese stock markets involve such investors, many of whom tend to make investment decisions based on price movements rather than on...

Regarding Chinese stock investors, he said individual investors now account for about 20 per cent of market capitalisation with their source of funds being household savings and margin loans, resulting in forced sales when share prices fall sharply.

By Ken Sweet, The Associated Press on July 8, 2015.