China's stock index plunged 7 percent Thursday, forcing the market to close for the day just 30 minutes after opening and marking the country's shortest trading day ever. The closure, triggered as an emergency measure when stocks drop beyond a certain speed, is China's second this week as stocks continue to fall in the world's second-largest economy for the sixth consecutive day.
China's tumble has prompted stocks to plunge in both the U.S. and Europe and the price of oil to drop to levels that Reuters reports haven't been "seen since the early 2000s." The Associated Press reports financial analysts predict China's volatility will continue for a few months, though not to this degree.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Political dynasties at war in the PhilippinesUnder the Radar 'Fiercer, nastier, and more personal' rift between Marcos and Duterte factions risks splitting ruling coalition
-
'Without mandatory testing, bird flu will continue circulating at farms across the country'Instant Opinion Opinion, comment and editorials of the day
-
Thirteen missing after Red Sea tourist boat sinksSpeed Read The vessel sank near the Egyptian coastal town of Marsa Alam
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
