Global markets rebounding after ‘Black Monday’
Posted August 25, 2015 6:31 am.
This article is more than 5 years old.
BEIJING – Chinese stocks tumbled for a fourth day today, hitting an eight-month low after yesterday’s 8.5 per cent plunge triggered a global selloff that even sent Toronto’s key index down by 3.1 per cent.
China’s Shanghai index dropped another 7.6 per cent today.
While Japanese stocks also closed down, other Asian and European markets recovered some of the previous day’s heavy losses.
Meantime, China has just announced cuts to interest rates for the fifth time since November in a new effort to boost its slowing economy.