Yesterday, for the first time since 2009, crude oil prices fell below 40 USD per barrel and continued the worst decline since 1986.
Caught up in the sell-off were the same stocks that led the price increase this year.
Global stocks went down yesterday.
According to statistics from Bloomberg, more than $3,300 billion has fled the global stock market, after China devalued its currency on August 11 at a record level in the past two decades.
Investors are selling stocks that have increased sharply since the beginning of the year.
In Asia, the Shanghai Composite (China) lost 4.3% yesterday, bringing the weekly decline to 10%, wiping out all rescue efforts of the Government since the end of July. Hang Seng Index on the Hong Kong floor (
The European market also entered a correction, when the Stoxx Europe 600 Index lost 3.3%.
`This week’s selling momentum comes from China’s yuan devaluation, raising doubts about the true health of the world’s second largest economy. China’s manufacturing index (PMI) also weakened, according to
