At the stock markets, the Sensex at the Bombay Stock Exchange plunged 324 points, to close at 27,608. The Nifty at the National Stock Exchange slumped 122 points, to 8,373.Key Asian stock markets slumped, today, pressured by lower oil prices and a slowdown in China and as the latest Fed minutes raised concerns over the strength of the global economy. Fears that growth in China, which carried the global economy following the 2008 international financial crisis, is slowing over the long term are affecting riskier assets around the world. So China's Shanghai Composite index tumbled a hefty 3.4 percent; Japan's Nikkei 225 index fell 0.9 percent; Hong Kong Hang Seng slumped 1.8 percent; South Korea's Kospi lost 1.3 percent; and Singapore's Straits Times index slid 1 percent. The European markets also fell, with the UK'S FTSE-100 losing 0.2 percent, France's CAC-40 slipping 0.7 percent and Germany's DAX sliding 0.9 percent in intra-day trade. Among emerging market currencies, the Turkish lira briefly touched 3 per dollar, as political uncertainty and conflict focused in the country's southeast undermined investor sentiment.And in another sign of the "currency wars" spreading across emerging markets, the Kazakh tenge plunged to 257 per dollar, from around 197 after the central bank scrapped its trading band.
News On AIR | August 20, 2015 5:29 PM
Sensex plunges 324 points to closes at 27,608