US markets bounce back from Black Monday on opening after China cuts interest rates - as it happened

Global markets poised for another day of difficult trading after the 'Great Fall of China'

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The Independent Online

Here are the latest updates:

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Shares in China have dipped again, falling 6 per cent in early trading after heavy losses yesterday reverberated in markets around the globe.

The Shanghai Composite index fell 6 per cent in the early hours of Tuesday, while the tech focussed Shenzhen Composite fell 7 per cent.

Other markets showed gains on Tuesday, suggesting that the panic outside of China could be abating or that global sentiment could be seeing the China losses more isolated.

The Hong Kong Hang Send index lost 0.5 per cent in early trade but rebounded slightly. The Australian index the ASX 200 has rallied 2.7 per cent and the Korean Kopsi index is up 0.7 per cent after making early losses of 1.3 per cent.

The start of the week was hailed as ‘Black Monday’ as markets around the world suffered their worst losses since the financial crash in 2008. The Dow Jones fell 1000 points in early trade, while at its worst the losses of the UK’s FTSE 100 index totalled more than £100 billion, its worst single day of trading since 2009.

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