Bloodbath Across Global Markets; Shanghai Sinks 8%, Hang Sang 5%, Taiwan 6%

Global markets fell sharply in trade as markets were seeing one of their worst falls in recent times after fears that Chinese growth was slowing spooked markets.

The Shanghai Composite fell a huge 8.5 per cent in trade, while the Hang Sang fell 5 per cent, the Taiwan Weighted fell 6 per cent and the Jakarta Composite was down more than 4 per cent.

Most of the Asian markets were trading at multi-year lows.

Chinese PMI data began, which came out on Friday confirmed fears that the Chinese economy is slowing which accelerated the rout on early Monday.

Commodities also plunged in trade with Brent Crude trading 2 per cent lower, which should be good news for oil importers like India.

Most of the other commodities including metals were also trading sharply lower. Indian markets are expected to open lower in trade as the carnage spreads across the globe.

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