For the week ended 28 August 2015
- US Q2 GDP revised up to 3.7%
- US housing, durable goods orders strengthen
- US consumer spending up, inflation tame
- China cuts rates, reserve requirements
- Mining giant BHP Billiton falters
Market volatility spiked dramatically early this week as fears about the depth of China's economic downturn escalated. Asian markets were hit the hardest: Through Wednesday, the Shanghai Composite Index lost 26% of its value in just eight trading days. European shares were also unstable, and Japan's Nikkei 225 and US stock indices had six-day stretches of losses before rallying as strong US economic data countered worries about China's weakness.