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The dollar index, which measures its performance against a basket of six major currencies, fell 0.9pc to its lowest in two months.

Concerns about a China-led global economic slowdown and tumbling commodities prices had U.S. traders fearing the worst after a 5 percent decline in the both the S&P and Dow last Thursday and Friday.

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.

Oil prices fell. But investors also saw opportunity, moving fast and early to snap up some bargains.

Mumbai/Nagpur: The stock market seems to be moving in just one direction, as the Sensex’s south-bound journey on the back of relentless selling pressure shaved 800 points off the index in last two days.

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.

By increasing demand for them, the government hopes prices will rise. As the slide highlighted on Monday, those efforts have not been a success.

Australian Treasurer Joe Hockey said that though markets would remain volatile for a while, the global economy’s fundamentals remained fairly strong.

Yet those gains would come at the expense of manufacturers in other countries, including the United States and Europe.

What is really unusual, however, is that over the past year the U.S. has refused to defend its export market share, as the U.S. government has taken no official policy position on the value of its currency. Yet those gains would come at the expense of manufacturers in other...

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.

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....

European stocks were on track for their worst week in six after exporting companies with exposure to China saw their stocks fall after the yuan was devalued. “With the devaluation of the yuan, they have to pay more for every dollar that they buy and chances are some...

“Given the sufficient forex reserves with the RBI, the central bank will not allow the continuous slide in rupee’s value”.

Oil has dropped below $40 a barrel for the first time since the end of the global economic crisis.