Xi just changed the rules of the game in China...
• http://www.businessinsider.com, Linette LopezXi just changed the rules of the game in China -- and that makes things scarier for everyone
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Economy - International
Dow up 200 points as calm returns to U.S. stocks
• CNN MoneyThe U.S. stock market is catching its breath Thursday morning -After several volatile days with huge swings in both directions, the Dow opened up a relative tame 200 points while the S&P 500 and Nasdaq both posted gains above 1%.
China Sells U.S. Treasuries to Support Yuan
• BloombergChina has cut its holdings of U.S. Treasuries this month to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter.
Hail, Hail, The PPT Is Here!
• fxstreet.com/analysisGood day. And a Tom Terrific Tuesday to you! Whew! What a day in the markets yesterday! I was worn out just watching the screen with moon shots up, and deep well plunges down.
China police 'summon 11 over stock market activities'
• http://news.yahoo.comChinese police have summoned 11 people including a financial journalist to assist investigations related to illegal stock market activities, state media reported, as the government targets volatility on the exchanges.
Chinese Markets Crash Again In Biggest Collapse In 20 Years
• http://www.prisonplanet.comInvestors were rattled as the China Securities Regulatory Commission made no attempt to reassure markets after Monday's crash, as they did a month ago after an 8.5 percent drop.
Trump: Chinese Economic Crisis Could Lead to a Depression
• http://www.prisonplanet.comDonald Trump warns that China's handling of the current financial crisis could lead to an economic depression.
NYSE Invokes Rule 48 For Second Day In A Row Ahead Of Market Open
• http://www.zerohedge.comPrecisely 24 hours ago, in an attempt to pre-empt the panic-selling open, the NYSE invoked the little used Rule 48, which was to be expected: the Nasdaq 100 has just tumbled limit down and the S&P and DJIA would follow shortly.
US Equity Markets Give Up China Rate Cut Gains
• http://www.zerohedge.comStocks remain green but the pre-open surge on the back of a China rate cut has been erased as USDJPY rolls over...
Saudi Arabia Is Seeking Advice on Cutting Billions From Its Budget in the Wake of the Oil Crash
• BloombergSaudi Arabia is seeking advice on how to cut billions of dollars from next year's budget because of the slump in crude prices, according to two people familiar with the matter.
Where Does The Market Go From Here: Two Opposing Views
• http://www.zerohedge.comYesterday's market tumble finally brought the S&P and Nasdaq alongside the Dow Jones into correction territory, sending the broader index down 11% from its highs, even as a vast majority of S&P constituents already preceded the index and are either i
Gulf Markets Melting Down: Saudi Arabia Plunges 7%, Dubai Sold
• by ZeroHedgeFollowing the end of a horrible week for petroleum importers (not to mention shale producers) despite WTI briefly dipping under $40 (wasn't this supposed to be great news for the US economy?) ...
Central Banks Have Become A Corrupting Force
• Paul Craig Roberts and Dave KranzlerAre we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?
Crude oil collapses to a stunning new low
• Business InsiderIn early trade on Monday morning, the price of West Texas Intermediate was down about 5.7% and traded as low as $38.13 a barrel, a new post-financial-crisis low for the commodity that has been getting hacksawed this year.
Oil Plunges Amid Broad Commodities Selloff
• Wall Street JournalBrent crude drops below $45-a-barrel mark for the first time since March 2009
Jack Lew in China: China's Markets Aren't 'Linked' to Rest of World
• Grabien.comJack Lew, speaking at the Brookings Institution in July, confidently assured that Americans were immune from weakening markets in China.
Global Trade In Freefall: Container Freight Rates From Asia To Europe Crash 60% In Three Weeks
• Prison PlanetThree weeks ago, when we last looked at the collapse in trade along what may be the most trafficked route involving China, i.e., from Asia to Northern Europe, we noted that while that particular shipping freight rate Europe had crashed some 23% on ju
Here's what analysts are saying about China's 'Black Monday'
• Business InsiderChinese stocks were absolutely hammered overnight on Monday, tanking 8.5% in what observers are calling the Shanghai Composite's "Black Monday".
MARKET MAYHEM: This is it
• Business InsiderThe global market bloodletting continues as the sell-off has officially reached historic levels.
Great fall of China sinks world stocks, dollar tumbles
• Yahoo NewsAlarm bells rang across world markets on Monday as a near 9 percent dive in China shares and a sharp drop in the dollar and major commodities panicked investors
Why It Really All Comes Down To The Death Of The Petrodollar
• Zero HedgeLast week, in the global currency war's latest escalation, Kazakhstan instituted a free float for the tenge. The currency immediately plunged by some 25%.
Carnage Continues Across European Stocks
• Zero HedgeEURUSD Surges Above 1.1500 As WTI Crude Tumbles To $38 Handle
China's leaders look powerless against destructive market forces
• GuardianThe longstanding perception created by Communist rulers that they are always ultimately in charge takes a battering from feral capitalism
Market turmoil is yet another lesson in need for international policy cooperation
• The GuardianWorld hasn't changed much since financial crisis, which showed an economic model based on widening inequality and uncontrolled capital flows is unviable
Market turmoil leaves tech sector exposed
• Financial TimesInvestors are wary of the technology sector's prospects this week after one of the market's remaining bulwarks fell victim to the widespread equities rout late last week amid growing fears over the Chinese economy.
Angry investors capture head of China metals exchange
• Financial TimesThe head of a Chinese exchange that trades minor metals was captured by angry investors in a dawn raid and turned over to Shanghai police, as the investors attempted to force the authorities to investigate why their funds have been frozen.
Making Sense Of The Sudden Market Plunge
• http://www.zerohedge.com, by Chris MartensonThe global deflationary wave we have been tracking since last fall is picking up steam.
This Is Not A 'Correction'……..It's The Beginning Of The Global Bubble Unwind
• by Doug NolandReuters Breakingviews (Edward Chancellor): "Financial markets, like religions, are faith-based networks.
Don't Worry, IMF Says "Premature" to Speak of Chinese Crisis
• http://globaleconomicanalysis.blogspot.com,Growth in China is slowing rapidly. How rapidly is a subject of much debate. Today, a senior IMF official says 'Premature' to Speak of Chinese Crisis.
Oil ends down more than 2 percent as U.S. drilling points to glut
• yahoo.comU.S. oil prices traded below $40 a barrel for the first time since the 2009 financial crisis, ending 2 percent lower on Friday on signs of U.S. oversupply and weak Chinese manufacturing and notching the longest weekly losing streak in almost three d
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