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TODAYS NEWS China cuts rates, reserve ratio to aid economy as stocks sink Tue, 25 Aug 15 11:50:09 GMT
China's central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe. The move came as Chinese stock indexes nosedived more than 7 percent on Tuesday to hit troughs not seen since December, and after shares had plunged over 8 percent on Monday. The latest policy easing also followed a shock devaluation in the yuan (CNY=CFXS) two weeks ago, a move that authorities billed as aiding financial reforms, but that some saw as the start of a gradual slide in the currency to help stumbling exporters. Read more Wall Street set to bounce after historic selloff Tue, 25 Aug 15 11:50:08 GMT
U.S. stock index futures pointed to a sharply higher open on Tuesday, recovering from the plunge seen in global stocks on Monday. Read more
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