It’s an ugly start to the week for Europe’s stock markets, all of them are down.
In China, they’re calling it Black Monday. The benchmark Shanghai Composite index collapsed more than 8%, prompting huge sell-offs across all the major European share markets.
Here’s the scorecard so far:
- UK’s FTSE 100: 6012.42 (-2.83%)
- Germany’s DAX: 10,124.52 (-2.93%)
- France’s CAC: 4,630.99 (-3.19%)
- Spain’s IBEX: 10,271.70 (-2.98%)
Commododities are also completely tanking, even gold:
- Brent Crude Oil: 44.33 (-2.49%)
- WTI Crude oil: 39.27 (-2.92%)
- Copper: 2.251 (-2.30%)
- Gold: 1154.60 (-0.54%)
The carnage in Shanghai is being replicated in other mainland Chinese indices.
The CSI 300 and 500 indices, comprising of the 300 and 500-largest firms by market capitalisation in Shanghai and Shenzhen, are lower by 8.82% and 10% respectively.
Earlier in the session the PBOC fixed the USD/CNY rate at 6.3862, down slightly on the 6.389 closing level seen on Friday.
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