Wall Street continues to hit global share markets

ProMASS News Bureau: Jan 5, 2016:

Wall Street continued the rout on global share markets, with the Dow Jones, S&P 500 closing down more than 1.5 per cent and Nasdaq down 2 per cent. It followed sharp falls in China, where trading on the main stock markets was halted early after indexes tumbled 7 per cent.

A survey indicating China’s manufacturing sector contracted again last month was blamed for the falls. Other Asian markets also fell, while in Europe, the FTSE 100 closed down 2.6 per cent and Germany’s Dax index dropped 4.3 per cent. Meanwhile, news that Saudi Arabia hadbroken off diplomatic ties with Iran sent oil and gold prices higher.