News / Asia

    Global Markets Plunge as China's Economy Falters, Oil Prices Fall Further

    Woman walk past an electronic stock board showing Japan's Nikkei 225, top right, and Hong Kong's Hang Seng, bottom left, at a securities firm in Tokyo, Jan. 20, 2016.
    Woman walk past an electronic stock board showing Japan's Nikkei 225, top right, and Hong Kong's Hang Seng, bottom left, at a securities firm in Tokyo, Jan. 20, 2016.
    VOA News

    Falling oil prices, China's economic slowdown, and a pessimistic outlook for the overall global economy this year sparked another selloff of stocks on global markets.

    It was a wild day for traders in U.S.  Wednesday, as major indexes fell more than three percent at one point, before recovering significantly by the close.

    Experts blame the volatility on plunging oil prices, China's economic slowdown, and a pessimistic outlook for the overall global economy this year.  The price of oil dropped below $27 a barrel, which hurt the stock prices of energy companies that are important parts of some stock indexes.

    At the end of trading the S&P 500 was off 1.2 percent, while the Dow fell about 1.6 percent.

    Earlier, stocks in Germany fell 2.8 percent while key indexes in France and Britain dropped nearly 3.5 percent.

    Tokyo's Nikkei index fell nearly 4 percent, Hong Kong's Hang Seng dropped 3.5 percent and South Korea's Kospi lost 2.3 percent.  China's Shanghai index fell 1.3 percent Wednesday.

    A third worry came when prices for U.S. oil fell below $28 a barrel, the lowest mark in 12 years, after the International Energy Agency issued a report warning that global oil markets could "drown in oversupply" as demand plunges.

    You May Like

    Syrian Rebel Realignment Likely as al-Qaida Leader Blesses Split

    Jihadist group Jabhat al-Nusra splits from al-Qaida in what observers dub a ‘deception and denial’ exercise

    New India Child Labor Law Could Make Children More Vulnerable

    Concerns that allowing children to work in family enterprises will push more to work

    What Take-out Food Reveals About American History

    Carry-out food explains a lot about the changes taking place in society, so here's the deal with pizza, Chinese food and what racism has to do with taking food to go

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: venze from: singapore
    January 20, 2016 7:39 PM
    Capitalism sucks, it sucks the blood of average people, especially the poor. Each time markets drop drastically, most small timers lose lots of savings.

    by: meanbill from: USA
    January 20, 2016 9:23 AM
    A message for all those people that would criticize the Chinese communist economy with gloom and doom prophesies; Those criticizing people should remember that the Chinese communist economy (GDP growth) outperformed every other countries economy (GDP growth) by a really wide margin, and whatever corrections that are occurring now in the Chinese communist economy, are also occurring in every democratic countries worldwide? .. Corrections are an important part of stock markets worldwide, and all the stock markets worldwide seem to recover after the recoveries, don't they?

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Uganda Unveils its First Solar-powered Busi
    X
    July 28, 2016 4:16 AM
    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Philadelphia Uses DNC Spotlight to Profile Historic Role in Founding of United States

    The slogan of the Democratic National Convention now underway in Philadelphia is “Let’s Make History Again” which recognizes the role the city played in the foundation of the United States in the 18th century. As VOA’s Kane Farabaugh reports, local institutions are opening their doors in an effort to capitalize on the convention spotlight to draw visitors, and to offer more than just a history lesson.
    Video

    Video A Life of Fighting Back: Hillary Clinton Shatters Glass Ceiling

    Hillary Clinton made history Thursday, overcoming personal and political setbacks to become the first woman to win the presidential nomination of a major U.S. political party. If she wins in November, she will go from “first lady” to U.S. Senator from New York, to Secretary of State, to “Madam President.” Polls show Clinton is both beloved and despised. White House Correspondent Cindy Saine takes a look at the life of the woman both supporters and detractors agree is a fighter for the ages.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video First Time Delegate’s First Day Frustrations

    With thousands of people filling the streets of Philadelphia, Pennsylvania for the 2016 Democratic National Convention, VOA’s Kane Farabaugh narrowed in on one delegate as she made her first trip to a national party convention. It was a day that was anything but routine for this United States military veteran.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.

    Special Report

    Adrift The Invisible African Diaspora