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Shanghai: Shanghai stocks tumbled 6.41 per cent in early trading on Tuesday, extending the worst plunge for eight years after worries China’s faltering economy could hurt global growth sent world markets nosediving.

The Shanghai Composite Index was down 4.3 percent at 3,071.06 at midday Tuesday after falling 6.4 percent in the first minutes of trading.

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.

The benchmark S&P index has accumulated 9.95 percent of losses in just five sessions.

(Close): Wall Street fell for a fifth consecutive trading session amid a dramatic global sell-off as fears over China’s slowing economy intensified.

The latest session saw the main index in Shanghai dive by a further 8.5%, deepening its recent heavy slump and meaning it has lost all its gains for 2015.

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.

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%.

Tan said that China’s gross domestic product (GDP) accounted for 43 percent of the total created by the economies in the Asian Pacific region, so there is no doubt that other regional currencies will follow the yuan to move lower, while the magnitude of the falls in...

A private factory gauge unexpectedly fell to the lowest level in more than six years, data Friday showed. At the same time, policy makers also expressed concerns that given recent drops in commodity prices inflation is still too low to justify an interest rate increase.

A lot of the FTSE is oil and gas and mining stocks and those are at the mercy of commodity prices, and there’s no knowing where they are going to end up’.

China’s stocks wiped out gains spurred by an unprecedented government campaign to prop up prices amid weakening economic data and signs of capital outflows.

Sales amounted to $17.43 billion, compared to the consensus estimate of $17.4 billion.