Home Business Wall Street Trades Higher After Losing Ground over China Crisis

Wall Street Trades Higher After Losing Ground over China Crisis


Wall Street shares opened sharply higher on August 26, with the Dow Jones 1.3% up, after losing ground on August 25.

At the same time, European stock markets lost ground as fears persist of a China-led economic downturn.

London’s FTSE 100 closed down by 1.7% , with markets in Paris and Frankfurt finishing down by 1.4% and 1.3% respectively.

Experts expect more market volatility until the Federal Reserve meets in September to set US interest rates.Wall Street during China crisis

The Shanghai index fell 1.27% to 2,927.29 on August 26, after veering in and out of negative territory.

Elsewhere in Asia, the region’s largest index, Japan’s Nikkei 225 finished 3.2% higher on Wednesday at 18,376.83 points.

The Nikkei’s gains come after a painful week for the Tokyo index, which had shed more than 8% in the past two sessions.

South Korea’s Kospi index was also in positive territory, closing 2.6% higher at 1,894.29 points, while in Australia, the S&P/ASX 200 finished 0.7% up at 5,172.80.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.