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The Labor Department said Wednesday that its consumer price index rose 0.1 percent in July following increases of 0.3 percent in June and 0.4 percent in May.

The statistics for the Consumer Price Inflation indices (CPI) released today reveal that the Consumer Prices Index (CPI) has turned positive, growing by 0.1% in the year to July 2015, up from 0.0% in the year to June 2015.

Not much room for “unnatural” profit there.

The S&P 500 dropped 43.88 points, or 2.1 percent, to 2,035.73 and the Nasdaq composite lost 141.56 points, or 2.8 percent, to 4,877.49.

The Shanghai Composite closed down 3.4% and the smaller, tech-heavy Shenzhen index lost 3%.

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.

A cheaper yuan is expected to aid exports for the world’s second-largest economy but also underlined concerns about the current status of the Chinese economy.

Stocks tumbled at the open Wednesday as investors focus on upcoming rate hikes ahead of the release of minutes from the last Federal Reserve meeting.

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.

In euro terms, gold is holding its own at above €1,000 per troy ounce. The rand is expected to come under more pressure from inflation and retail figures for July due on Wednesday. In addition, auto sales have remained healthy, as has the housing sector.

What does it mean for those companies dependent on China?

Most shares in the region climbed as China kept its currency steady for a second day.

Just as his remark about the female journalist is distasteful, his comment about the devalued Chinese currency is extravagant.

The global benchmark, Brent crude LCOU5, -0.95% fell 67 cents, or 1.3%, to $49.51 a barrel on London’s ICE exchange.

General Motors shares fell 3.5 percent to $30.83, though it said the devaluation of the yuan would have a “limited and manageable” impact on its business.