France’s CAC 40 fell 7% to 4,305 while London’s FTSE 100 fell nearly 5%. In US, the Dow index saw a huge fall, but managed to recover and was trading down over 310 pts
London : Raising the spectre of another carnage in the Indian stock market today, global shares went into a tailspin today, with European and US stocks tumbling as concerns over Chinese economy rattled investors worldwide, reports PTI.
Stocks from London to Paris to New York all bled, tracking heavy meltdown in Asian markets led by China.
Key European stock indices were sharply down — as much as 8 % in late-afternoon trade. The US shares too started off on a shaky note, registering a significant fall, with benchmark 30-share Dow index dropping over 3 %.
India’s benchmark Sensex took the bloodiest blow of its lifetime, crashing 1,624.51 points, or 5.94 %, to close at 25,741.56 points. The sell-off was across sectors, including energy, banking, auto, IT, infrastructure and real estate.
Meanwhile, among the benchmark European stock indices, France’s CAC 40 nosedived 7 % to 4,305.95 while London’s FTSE 100 fell nearly 5 % to 5,906.43.
In the US, the Dow index saw a huge fall in the beginning, but managed to recover and was down over 310 points at 16,147.61 points in early morning trade. S&P 500 slumped over 2 % to 1,927.11 while the tech-heavy Nasdaq shed nearly 3 % to trade at 4,594.17.
Shanghai shares dived 8.49 % to 3,209.91 while Japan’s Nikkei 225 tumbled nearly 5 % to 18,540.68 and Hong Kong’s Hang Seng fell more than 5 % to 21,251.57.
The market bloodbath, one of the worst since the 2008 global financial crisis, has also stoked fears about the overall health of the world economy, which is witnessing a fragile and uneven recovery. Oil prices also tumbled, accelerating losses after breaking below the $40 barrel for the first time in six years Friday on concerns about waning demand in China, the world’s top energy importer.
