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Global stock markets fell sharply
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Loading...The declines came after Wednesday’s minutes from the U.S. Federal Reserve‘s July meeting offered no clear signal that it is getting ready to raise interest rates next month. The suggestion that rates could stay at rock bottom beyond September brought little comfort to investors, who have recently been rattled by signs that Beijing is struggling to contain the fallout from a cooling economy after devaluing the Chinese currency last week.
U.S. stocks fell, echoing declines in Asia and Europe, putting them on track for a third-straight session of losses.
Jitters from China have hit a market where stock valuations are high and the Fed is injecting an extra degree of uncertainty.
With the timing of a rate increase still cloudy, investors turned to the latest economic data for clues. Initial jobless claims rose 4,000 to 277,000 in the week ended Aug. 15, the Labor Department said Thursday. The level is historically low, suggesting the labor market continues to improve.
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