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Chinese stocks continue to tumble after global rout | |
(about 1 hour later) | |
Chinese stocks are again down, a day after their worst plunge since 2007 caused market losses around the world. | |
The global sell-off was driven by fears that China's slowing growth might pull down other economies. | |
The benchmark Shanghai Composite fell 6% on Tuesday, after falling 8.5% on Monday - overnight, stocks in Europe and the US also saw sharp falls. | |
Other Asian markets opened lower on Tuesday, but recovered losses in later trading. | |
Investors 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 by its slowdown. | |
Our experts' views on the sell-off | |
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 |
China's central bank devalued the currency, the yuan, two weeks ago, raising fresh concerns globally that its 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. | |
Elsewhere in Asia on Tuesday though, markets beat expectations, returning back to positive territory in early trade: | |
Those gains came despite the losses in Europe and the US overnight: |