Global Markets Jolted on China Fears

Global Markets Jolted on China Fears

The carnage in the global markets continued yesterday with what appeared at first to be the beginning of a flash crash as the Dow dropped more than 1,000 points in the first few minutes of trading.

The worst was ultimately averted as markets recovered by midday but not without ending nearly 600 points off the Friday close.

The losses reflected a wave that began in the Chinese exchanges with an 8% drop followed by a similar 800-point loss in the European markets.

Analysts warn that the global slump may not be over yet as indications from Beijing are that China will soon begin flooding the economy with currency, a sure sign of further destabilization.

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