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Rough Day for World Markets

TSC Staff

Stocks were plunging overseas Tuesday, led by diving equity measures in Asia, particularly mainland China.

Hardest hit among major indices was the Shanghai and Shenzhen 300 Index, a capitalization-weighted measure that tracks the daily performance of the 300 most representative A-shares listed on the Shanghai or Shenzhen stock exchanges. The index sank 9.2% to 2457.

Elsewhere, Tokyo's Nikkei 225 lost 0.5% to 18,120, and Hong Kong's Hang Seng tumbled 1.8% to 20,148.

South Korea's Kospi shed 1.1% to 1455, and Singapore's Straits Times Index fell 2.3% to 3232. India's BSE Sensex gave up 1.3% to 13,479.

European shares were also seeing a selloff. London's FTSE 100 was down 2.1% to 6298, and Frankfurt's Xetra DAX lost 2% to 6886. The Cac 40 in Paris was dropping 2.5% to 5619, and Milan's MIB 30 surrendered 2.2% to 41,888. The Swiss Market Index declined 2.9%.

Scandinavian stock averages were punished, losing between 2.9% and 4.7%.

As for Latin America, Mexico's Bolsa dropped 1.6% to 28,046, and Brazil's Bovespa fell 1.1% to 45,682.