FTSE Falls 4.5% on China Fears

European stocks tumbled and US equity markets prepared for steep falls after Chinese shares had their worst day since 2007 – intensifying a stock market rout driven by fears about the world’s second-biggest economy.

In lunchtime trading local time, the FTSE 100 had fallen almost 4.5% to 5,914 points, wiping more than £60bn off the index of leading UK shares. It was the first time the index had dropped below the 6,000 mark since early 2013, with almost all companies in the red, and followed a week of declines last week.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza