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5 Things You Need To Know About Black Monday

CXI August 24th, 2015
5 Things You Need To Know About Black Monday

 

Here are the five things you need to know about what is now being called ‘Black Monday.’

1. China sees more losses than ever before. Traders were hoping Chinese authorities would step in over the weekend to support the markets. But it has now fallen nearly 38% since June.

2. Stock market movers - Apple, Netflix suffer: Many U.S. stocks look poised to start the week deep in the red. Apple is down more than 4% in premarket trading, while Netflix is down more nearly 7%. Facebook is trading about 4% lower.

3. Cheap oil and other commodities are weighing heavily on many emerging markets, with Russia, Brazil, and Venezuela among the biggest losers.

4. International markets plunge: All major European markets opened down on Monday. It was all misery for other Asian markets again, with all major regional indexes closing in the red.

5. Friday market recap: The stock market took a dramatic plunge Friday.

This article originally appeared on money.cnn.com

 

Over to you

Which is the worst economic crisis ever? Why is the Chinese economy crashing? What effect will the Yuan devaluation have on consumer prices in The United States and other countries around the world? 

About Currency Exchange International
Currency Exchange International (CXI) is a leading provider of foreign currency exchange services in North America for financial institutions, corporations and travelers. Products and services for international travelers include access to buy and sell more than 80 foreign currencies, multi-currency cash passport’s and traveler’s cheques. For financial institutions, our services include the exchange of foreign currencies, international wire transfers, purchase and sale of foreign bank drafts, international traveler’s cheques, and foreign cheque clearing through the use of CXI’s innovative CEIFX web-based FX software www.ceifx.com.
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