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

Wall Street Trades Higher After Losing Ground over China Crisis

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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.