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Global Stock Markets Slide on China Fears

GCG Weekly Market Update – August 24, 2015

U.S. stocks ended a defensive week in the red as investor sentiment deteriorated in the face of fresh worries out of China. For the week, the S&P 500 fell 5.77%, the Dow lost 5.82%, and the NASDAQ slid 6.78%. (1)

Much of last week’s selloff can be attributed to ongoing worries about China. After Chinese officials unexpectedly devalued China’s currency two weeks ago, recent economic releases indicate that the world’s second-largest economy is rapidly slowing. (2)

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