India’s benchmark indices slumped as much as 1.5 per cent on Wednesday amid a global selloff triggered by Fitch Ratings’ downgrade of US government debt. The Sensex plunged 1,027 points, or 1.5 per cent, in intra-day trade before recouping some of the losses to end the session at 65,783, down 676 points, or… Continue reading US rating downgrade by Fitch spooks markets; Sensex, Nifty slump 1.5%
Tag: slump
China factory activity shrinks in July, adds to pressure to reverse slump
Demand for Chinese exports weakened after U.S. and European interest rates were raised to cool record-breaking inflation | Photo: Bloomberg Chinese factory activity contracted in July as export orders shrank, a survey showed Monday, adding to pressure on the ruling Communist Party to reverse an economic slowdown. A purchasing managers’ index issued by… Continue reading China factory activity shrinks in July, adds to pressure to reverse slump