Panic Spreading Across Financial World After People Wake Up To Nasty Surprise
“More fluctuations in global markets are expected now that…”
Randy DeSoto
WesternJournalism.com
January 4, 2016
Fears over China’s economy sent stock markets tumbling worldwide on Monday, the first trading day of the year.
The selloff was sparked by a new report showing China’s manufacturing sector contracted during the end of 2015, according to CNN Money. The Shanghai Composite index plummeted nearly 7 percent for the day before trading was halted, while the Dow Jones Industrial Average and Nasdaq fell over two percent on Monday morning.
“Even though the manufacturing report was disappointing, it’s just the latest sign of a slowdown in China. Analysts said selling in Chinese markets was also driven by other factors, including the scheduled lifting of bans on IPOs (public offerings) and sales by larger investors,” CNN reported.
“With headwinds both domestic and external, investors feared a hard landing may be inevitable and rushed to the exits,” Emma Dinsmore, CEO of R-Squared Macro Management, wrote in a client note.
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