The main international markets closed with sharp losses after a new stock market crash of Shanghai and signs of a delay in the rise in interest rates United States deepen fears of a slowdown in the global economy.
the main index of the Shanghai stock market fell 3.42% and closed at 3664.29 points after the massive sale of assets by investors. On Wall Street, the Standard & Poor's 500 erased the gains of the year after falling 1.5% to settle at 2048.04 units, below the average achieved in the last 0 days.
Meanwhile, the Dow Jones lost 1.6% and dropped to 17.09,98 points, the lowest level since February.
in Europe, the Milan Stock Exchange and Frankfurt They were the most affected, with falls of 2.6 and 2.34%, respectively. Also they closed in negative territory Paris (-2.06), Madrid (-1.81) and London (-0.56).
Brent crude fell 2.29% to 46.08 dollars a barrel, although the value of crude West Texas Intermediate (WTI) managed to advance 0.83% compared to yesterday.
the yuan -the Chinese- currency managed to break his fall and rose 0.1% to 6.3891 per dollar, after three consecutive devaluations arranged last week by the PBOC week. The depreciation of the Chinese currency worsened yesterday with the decision of the International Monetary Fund (IMF) to postpone until September 2016 inclusion in the basket of freely convertible currency accepted by the body.
However, stabilization of the yuan failed to dispel pessimism among investors, who anticipate that the slowdown in the second world economy will have broad negative impact on other markets, mainly in those countries producing agricultural commodities and metal inputs used in Chinese manufacturing.
the commodities index compiled by Bloomberg fell to its lowest level since 02 and accumulates a decline of 7.2% so far this month, dragged down by the decline in oil prices, nickel and sugar.
According to Bloomberg, commodity producers lost 2.05 billion since last year because of the fall in international prices, equivalent to the entire GDP of India.
adverse conditions in international markets worsened after learning of the minutes of the last meeting of the Federal Reserve ( Fed), in which the maximum central bank of the United States expressed reservations regarding the recovery of the global economy that could reverse the decision to raise interest rates scheduled for September this year.
Despite improving economic indicators in the US rate as the increase in sales of existing homes and a relatively low rate in the application for unemployment benefits, the Fed would not withdraw the last of its stimulus measures money to not observe strong evidence of a global recovery.
However, a possible rise in the dollar would also have a negative effect on emerging markets as aggravate a massive capital flight to US seeking better returns through instruments such as Treasury bonds and other assets.
Source: Telam