2016

2016

Tuesday, August 11, 2015

China Rattles World Markets

"China rattled global financial markets by devaluing its currency in what it said was an effort to make
its exchange rate more market-oriented. The yuan's value declined 1.9 percent on Tuesday, its biggest one-day drop in a decade, and dropped a further 1.6 percent on Wednesday. The move could help Chinese companies by making their products less expensive in global markets. U.S. stocks sank, partly on fears about a worsening economic slowdown in China." msn

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