Wall Street ended the third quarter with a strong note on encouraging ADP employment data and as Senate passed a bill to avoid a Government shutdown. However, the third quarter remained a weak one for the equity market with DJIA losing -7.58% and S&P 500 down -6.94%. Eurozone’s Stoxx 600 jumped +2.52% yesterday, although data confirmed that the region has returned to deflationary territory.
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Although the Greek problem would certainly return to the centre stage, as the Government is requested to submit a new proposal by a “hard deadline” and a full EU-28 summit would be held Sunday, the focus is in China’s stock market which experienced panic selling (despite the government’s intervention). Selloff of Chinese stocks has even shown signs of spilling other markets. China’s CSI 300 plummeted -6.8% with as much as 1 300 companies suspended trading.
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Sentiment Ruined by Chinese Stock Market Drama