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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