GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Monday, August 24, 2015

Europe Falls 3% After Chinese Market Sheds 8.5%

European markets opened sharply lower Monday, August 24, setting up a fourth, consecutive day of losses after Asian markets collapsed overnight led by a huge sell off in Chinese shares. China’s Shanghai Composite Index tumbled more than 8.5% posting its biggest one-day loss in percentage terms since the 2007 global financial crisis. Europe’s main markets opened about 3% lower, with not a single member of London’s FTSE100, Frankfurt’s DAX or Paris’s CAC40 in positive territory during the morning session. The biggest fallers were companies with exposure to China, including London-listed mining companies BHP Billiton, down 5.6%, and Anglo American, down 4.75%. The world’s biggest steel maker ArcelorMittal also had a torrid opening session, falling 5% on fears of a downturn in Chinese demand.

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