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THE WALL STREET JOURNAL Markets Alert


Global Stocks Slide Again on China Concerns

Concerns about China's economy rippled through global markets for a second straight day, sending stocks sharply lower.

The pan-European Stoxx Europe 600 index was down 2.0% in early trade, with Germany's exporter-heavy DAX index falling 2.3%. Hong Kong's Hang Seng index fell 2.4%, while Japan's Nikkei 225 index dropped 1.6%. U.S. stock futures also fell, indicating a 0.9% opening loss for the S&P 500.

The turmoil comes after China's central bank moved to devalue its currency earlier in the week, a move Beijing hopes will prop up Chinese exporters as the country's economy cools rapidly. The yuan fell nearly 2% against the U.S. dollar and is on track for its largest two-day loss on record.

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