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| Chinese stocks tumble for a second day after global fall | Chinese stocks tumble for a second day after global fall |
| (5 months later) | |
| Chinese stocks have plunged for a second day after worries over China's slowing growth triggered a global sell-off. | Chinese stocks have plunged for a second day after worries over China's slowing growth triggered a global sell-off. |
| The Shanghai Composite, China's main stock exchange, fell 7.6% on Tuesday - after losing 8.5% on what state media have called China's "Black Monday". | The Shanghai Composite, China's main stock exchange, fell 7.6% on Tuesday - after losing 8.5% on what state media have called China's "Black Monday". |
| It was the worst fall since 2007 and caused sharp drops in markets in the US and Europe | It was the worst fall since 2007 and caused sharp drops in markets in the US and Europe |
| Tokyo's Nikkei index had a volatile day, closing 4% lower. | Tokyo's Nikkei index had a volatile day, closing 4% lower. |
| Live coverage of global markets | Live coverage of global markets |
| The Shanghai index ended the day 245 points lower at 2,964.97. | The Shanghai index ended the day 245 points lower at 2,964.97. |
| After decades of rapid growth, China is slowing down, and investors globally are worried that firms and countries which rely on high demand from China - the world's second largest economy and the second largest importer of both goods and commercial services - will be affected. | After decades of rapid growth, China is slowing down, and investors globally are worried that firms and countries which rely on high demand from China - the world's second largest economy and the second largest importer of both goods and commercial services - will be affected. |
| Read more: The six Cs of the China stock slump | Read more: The six Cs of the China stock slump |
| The stocks fall in facial expressions | The stocks fall in facial expressions |
| Carrie Gracie, China editor, BBC News: 'Beijing thinking hard' | Carrie Gracie, China editor, BBC News: 'Beijing thinking hard' |
| Some investors had hoped that the Chinese government might make a dramatic intervention to help. | Some investors had hoped that the Chinese government might make a dramatic intervention to help. |
| But after two months of attempting and failing to shore up the markets at a cost of hundreds of billions of dollars in state funds, even Beijing now seems to be thinking hard about what stock prices are sustainable in the long term. | But after two months of attempting and failing to shore up the markets at a cost of hundreds of billions of dollars in state funds, even Beijing now seems to be thinking hard about what stock prices are sustainable in the long term. |
| For a government whose legitimacy rests on economic competence, and which had hoped that a rising stock market would help ease the problems of a wider economic slowdown, this financial crisis still carries real political dangers. | For a government whose legitimacy rests on economic competence, and which had hoped that a rising stock market would help ease the problems of a wider economic slowdown, this financial crisis still carries real political dangers. |
| Read more from our experts: | Read more from our experts: |
| Andrew Walker: How the China share slump affects the rest of the world | Andrew Walker: How the China share slump affects the rest of the world |
| Karishma Vaswani: China counts cost of Black Monday | Karishma Vaswani: China counts cost of Black Monday |
| Robert Peston: Will China’s slowdown make us poorer? | Robert Peston: Will China’s slowdown make us poorer? |
| Duncan Weldon: China share falls - why it's not 2008 | Duncan Weldon: China share falls - why it's not 2008 |
| Chinese shares had experienced a year-long rally - mainly fuelled by investors borrowing money to buy shares - which came to an end in June. | Chinese shares had experienced a year-long rally - mainly fuelled by investors borrowing money to buy shares - which came to an end in June. |
| The Chinese government then intervened in financial markets, to try to maintain momentum in the economy. | The Chinese government then intervened in financial markets, to try to maintain momentum in the economy. |
| Two weeks ago the central bank devalued the currency, the yuan - this raised fresh concerns that China's economy could be in worse shape than previously thought. | Two weeks ago the central bank devalued the currency, the yuan - this raised fresh concerns that China's economy could be in worse shape than previously thought. |
| A cheaper currency lowers the price of China's exports, making them more attractive to global firms. | A cheaper currency lowers the price of China's exports, making them more attractive to global firms. |
| Elsewhere in Asia and Australia on Tuesday, markets beat expectations, opening lower but then returning back to positive territory: | Elsewhere in Asia and Australia on Tuesday, markets beat expectations, opening lower but then returning back to positive territory: |
| The dollar remained weak at 119.15 yen, up from a seven month low of 118.51 yen in New York on Monday. | The dollar remained weak at 119.15 yen, up from a seven month low of 118.51 yen in New York on Monday. |
| Commodity prices also recovered after Monday's falls, although oil remains under pressure because of a global oversupply. | Commodity prices also recovered after Monday's falls, although oil remains under pressure because of a global oversupply. |
| Overnight, the Europe and the US saw dramatic falls, but are expected to show some signs of recovery when they open on Tuesday. | Overnight, the Europe and the US saw dramatic falls, but are expected to show some signs of recovery when they open on Tuesday. |