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Anxiety gave way to relief on global markets as China’s central bank eased concern that a shock currency devaluation would trigger broader financial turmoil.

Though China said its strong economic fundamentals provided “strong support” for the yuan, sources told Reuters that some within the government were pushing for the yuan to go even lower.

He said the statements alleviated concerns of a currency war. On Thursday, the central bank tried to ease fears of more big declines, saying the yuan was close to “market levels”. Shares sank Wednesday, August 12, 2015, as China let its currency fall for a second day...

Another drop in China’s currency sent global markets mostly lower on Wednesday as the move raised worries about the world’s second-largest economy, but US stocks finished mostly higher Wednesday as an afternoon rally led by Apple and energy equities overcame early...

The Nasdaq Composite Index closed up 7.60 points, or 0.2%, at 5,044.39, after being down as many as 91 points.

The Dow Jones industrial average fell 212.33 points, or 1.2 per cent, to 17,402.84. The S&P 500 rallied 1.3% to 2104, while the NASDAQ added 1.2% to 5102.

After Tuesday, again on Wednesday for the continued second day the stocks in China dropped.

Shares of US carmakers with big exposure to China fell.

China’s yuan hit a four-year low on Wednesday, falling for a second day after authorities devalued it on Tuesday.

In recent weeks, Beijing has rolled out an unprecedented series of support measures to prevent a full-blown market crash, including cajoling Chinese brokerages and pension funds to buy stocks and cracking down on short-selling.

Hong Kong: China stocks rose on Monday on possible restructuring among major shipping firms and in other key sectors, and on hopes that less volatile trading may soon convince fund managers to get off the sidelines and put billions in cash back to work.

But that is no longer the case, hampering economic growth.

Producer prices in China fell to a six-year low in July, while consumer inflation remained subdued, signalling the economy still faces deflationary pressures and Beijing has room to unveil more economic support measures.

Shopper inflation edged as much as a still-low 1.6 % year-on-year in July, authorities knowledge confirmed Sunday, leaving room for Beijing to chop rates of interest or take different steps to stimulate slowing financial progress. The year-over- year fall in the producer-price...

The ISM’s manufacturing purchasing managers index, which was released ahead of its normal 10am Eastern Time schedule, fell to 52.7 in July from 53.5 in June. A reading above 50 indicates general expansion, and the July PMI registered at 52.7 percent.