(TRUNEWS) The global stock market could suffer more amid the drop in the price of oil and China weakening the yuan.
The markets worldwide have slumped in the first days of the new year. IMF economist Maurice Obstfeld believes disappointing news from China could cause the markets to fall again. He has said China’s reduced rate of growth due to diminished imports and lower demand for commodities have been part of the problem, according to The Telegraph.
On Tuesday, weak manufacturing data threatened stocks forcing China to weaken its currency.
Meanwhile, the price of crude oil fell to a 2004 low of $34.27 on Wednesday, due to escalating tensions between Iran and Saudi Arabia.
The post Global Stock Market Could Suffer More Amid Oil Price Decline and China Weakening Yuan appeared first on TRUNEWS with Rick Wiles.
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