Chinese stocks tumble for a second day after global fall

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”.
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.
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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.

 

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