Chinese stocks dive more than 6% as oil falls
- 8 years ago
China’s benchmark index plunged more than 6% Tuesday, after a renewed slump in oil prices kept investors on edge about the global economy.
Nasdaq and Dow futures fell 0.1% Tuesday.
In Europe, Germany's DAX index lost 0.5%, France's CAC 40 was down 0.4% and Britain's FTSE 100 was 0.7% lower.
Brent crude fell to under $30 a barrel early Tuesday, before reaching $30.33 at 5.35 a.m. ET.
Michael Every, who heads Financial Markets Research, Asia-Pacific, at Rabobank, said: "It’s just another in a long series of slumps that we have seen in this market, and it’s not the last we will see either because the market is still overpriced.
And too many people want to get their money out.
It’s been a bubble since it began last summer.”
Nasdaq and Dow futures fell 0.1% Tuesday.
In Europe, Germany's DAX index lost 0.5%, France's CAC 40 was down 0.4% and Britain's FTSE 100 was 0.7% lower.
Brent crude fell to under $30 a barrel early Tuesday, before reaching $30.33 at 5.35 a.m. ET.
Michael Every, who heads Financial Markets Research, Asia-Pacific, at Rabobank, said: "It’s just another in a long series of slumps that we have seen in this market, and it’s not the last we will see either because the market is still overpriced.
And too many people want to get their money out.
It’s been a bubble since it began last summer.”