The stock markets last week witnessed shifting of priorities to gold and money markets funds as high volatility make equity markets uncertain following the steep fall of over nine percent on Chinese market on opening day of the week Monday. This has led to record outflows from equity funds during the week.
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US economy is growing amidst looming global financial crisis
With current economic uncertainty, investors and citizens are asking whether the country will get affected by the looming global financial distress. Latest report by Business Insider shows that despites the turbulence, US economy has grown by 3.7 percent in the second quarter of 2015, and the unemployment rate fell to 5.3 percent this year compared to 6.2 percent last year.
Wild swings in China stocks this week
A rocky start for China stock in this new month as their stock market plunge yet again. Based on the report by CNN, Shanghai Composite index fell 4.2% at the opening bell while Shenzhen Composite index opened 5% lower at the same time.
Canada slides into recession as oil prices dip
Slumping oil prices take its toll on the Canadian economy. Canada is now officially in a recession for the first time in six years, as crude prices plummet due to supply glut and falling global demand, particularly from China.
China-based Internet entrepreneurs back Tesla rival NextEV
A group of wealthy internet entrepreneurs and investors in China are putting their money on NextEV, a rival to U.S. electric car manufacturer Tesla Motors Inc.
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Coursera, the world's leading online education provider, announced that it raised almost $50 million in funding for their expansion plans to China, the Americas and India.
WeChat announced Wednesday its new fitness channel called WeRun, which is a step counter app. WeChat is China's most popular messaging app that has more than 600 million users. The WeRun is not the first time WeChat moved into fitness. Tencent, WeChat's parent company, launched the WeChat Sports in February.
Underlining the erupting problem of liquidity crunch in its financial system, the world's second largest economy's central bank the 'People's Bank of China' has released GBP14 billion emergency funds into the domestic banking system to support the cash supply mechanism.
Another wild day of trading gripped Wall Street Tuesday. Many were hoping stocks would recoup losses from Monday's massive selloff, as all three major equity indexes surged during early sessions. But, as trading drew to a close, their gains vanished.
Uber recently announced that it has allocated $1 billion to expand its operations in China. Like that is not big enough, the company will also be setting aside another $1 billion to strengthen its business in India.
Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
Apple's stock rose sharply Monday after chief executive Tim Cook sent a rare e-mail to a news commentator, saying sales in China had been strong.
One can cite several reasons for the ongoing crash of equity values across the global markets. The major reason that no one can afford to avoid is Chinese factor. The slowdown in the world's second-largest economy, China's latest devaluation of its currency Yuan, drop in manufacturing output, mining companies reporting worst performance, etc, all these developments are impacting the global markets in fact all the countries including developed and emerging economies as well.
Apple shares went down seven percent Tuesday, and down again six percent Friday amid the declining U.S. stocks.
