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Robert Kleinhenz, chief economist with the Los Angeles County Economic Development Corp., agreed.

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 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...

The storm is 605 miles (975 kilometres) east of Antigua and moving quickly westward, the National Hurricane Center said yesterday. According to the NHC, these announcements are given when sustained winds of 39 to 73 miles per hour are thought to be possible because of a storm...

We are not expecting conditions to worsen in China.

Shares in banks and asset managers also fell, and the Euro STOXX Volatility Index rose to its highest since late 2011 – more evidence of investor unease.

Erdogan was expected to re-appoint Prime Minister Ahmet Davutoglu to form an interim government during a meeting on Tuesday.

European markets continued to fall during the trading session as fears of currency wars ignited a fresh bout of selling across global markets.

Brent and US crude both fell to six and half year lows and Carsten Fritsch, oil analyst at Commerzbank, speaking at Reuters” Global Oil Forum, said the collapse was “not about oil market fundamentals’ but about China.

China has sought to calm its panic-stricken stock markets by cutting interest rates and loosening constraints on bank lending after a second day of plunging share prices.

The British lobbying body is forecasting 2.6 percent growth for 2015 and 2.8 percent for 2016, up from its June’s projections of 2.4 percent and 2.5 percent respectively.

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.

US Department of State Spokesman John Kirby has said he will refrain from talking about internal matters in Turkey, which will hold a snap election on November. 1, but pointed out that the US in general stands for “inclusiveness and representative government, fair and free,...

Turkey’s President Recep Tayyip Erdogan ordered new elections on Monday after weeks of talks on forming a coalition government failed.

Brent oil closed at a $4.45 premium to West Texas Intermediate, the U.S. benchmark.