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Investing.com Weekly Wrap-Up 08 January 2016
Written by Investing.com Staff, Investing.com
U.S. stocks cap worst opening week in 25 years with dismal final hour
U.S. stocks closed broadly lower on Friday, capping their worst weekly start to a year in a quarter-century with a disappointing final hour.
Following a week of precipitous losses, the major indices appeared poised to bounce on Friday morning, as stocks in China rallied by 2% in overnight trading. It came as the People’s Bank of China increased the midpoint on the yuan and theShanghai Composite Index scraped a circuit breaker that halted trading twice this week. China has been the main culprit for a global equity rout this week, which has created approximately $2.5 trillion in losses on worldwide market and has led to mounting fears of slowing economic growth.
Source: http://econintersect.com/pages/investing/investing.php?post=201601081807
