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Brent Crude Crashes To April 2004 Low Following China Market Crash, Devaluation
Brent crude prices came crashing down on Thursday, falling over 4 percent to the lowest level seen since April 2004, following a rocky session in Asia after China accelerated the pace of the devaluation of its currency which drove its markets into a tailspin as shares plunged over 7 percent and triggered circuit breakers to kick in and … Continue reading
China Halts Trading For 2nd Time This Week As Shares Crash 7% Following Yuan Devaluation
China halted the day’s trading after only 29 minutes of opening on Thursday morning as shares crashed by over 7 percent — thus triggering an automatic circuit breaker — as authorities accelerated the devaluation of the Chinese yuan. China’s recently installed circuit breaker mechanism paused trading for 15 minutes after the CSI300 index fell 5 percent in the first 13 minutes of trading. Upon resumption … Continue reading
World Bank Issues 2016 ‘Perfect Storm’ Warning Amid BRICS Synchronized Slowdown
The World Bank has issued a warning that the global economy could be battered by a “perfect storm” in 2016 as a synchronized slowdown in the largest emerging market economies could be intensified by a fresh round of financial turmoil. In its annual flagship report, Global Economic Prospects, The World Bank said that BRICS nations … Continue reading
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