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An index is said to be in correction when it closes 10 per cent or more below its 52-week high. All major bourses were off a similar amount.

The STOXX 600 Basic Resources Index, whose constituents are mostly mining stocks, and the energy sector fell 10 % and 8.8 % respectively, as commodities slumped to multi-year lows, with China being one of the world’s biggest users of metals and oil.

The cause of the global market volatility centres on fears that the world’s second biggest economy is slowing. “And I don’t see any signs of meaningful government intervention”.

Japan’s Nikkei 225 Index dropped by 4.61% to 18,540.68.

Many traders had hoped that such support measures, which could include an interest rate cut, would have come from Beijing over the weekend after its main stocks markets slumped 11 percent last week. The world’s second-largest economy moved two weeks ago to devalue its...

Many traders had hoped Beijing would take support measures, such as an interest rate cut, over the weekend after China’s main stocks markets slumped 11 percent last week.

It’s ugly. But before you panic, let’s put this in perspective. “As it stands, the FTSE 100 is on course to post its biggest weekly decline of the year so far and there’s not a great deal on the agenda that would appear to have the ability to salvage the...

The New York Stock Exchange invoked a rule saying market makers don’t have to disseminate price indications before the opening bell in an effort to make it easier and faster to open stocks on a volatile trading day.

Regulators said they would allow the State Pension Fund to invest up to 30 percent of its total net assets in stocks and other equities, but that move was an approval of a policy announced earlier and had no discernable impact on investor sentiment.

As the selling accelerated, some benchmark indexes were at or near 10 per cent below their recent peaks – a “correction” in Wall Street parlance.

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....

Spot prices of Western Canada Select (WCS), a marker for heavy, diluted bitumen from Alberta’s oil sands sank to a 12-year low near $20 a barrel. WTI may drop to $US32 on the persisting global surplus, Citigroup Inc. said in a report August 19.

As if China wasn’t worrying investors enough, the odds of a Fed rate hike in September seems to have lowered. “This is about growth“. The Nasdaq crumbled 6.8% while the S&P 500 sank 5.8%.

At the RBI’s monetary policy review last earlier this month, Governor Raghuram Rajan said the fall in oil prices has been very beneficial for the country. In a future column, I’ll discuss the effects of the decline on the U.S. Federal Reserve’s timetable for...

Behind that were signs Beijing is struggling to prevent a stall in the world’s second largest economy, and that its actions, like the devaluation of the Yuan last week, was having a negative impact throughout emerging markets and would drag in developed economies as well.