European stocks tumbled and US equity markets prepared for steep falls after Chinese shares had their worst day since 2007 – intensifying a stock market rout driven by fears about the world’s second-biggest economy.
In lunchtime trading local time, the FTSE 100 had fallen almost 4.5% to 5,914 points, wiping more than £60bn off the index of leading UK shares. It was the first time the index had dropped below the 6,000 mark since early 2013, with almost all companies in the red, and followed a week of declines last week.
via The Guardian
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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