The main US benchmark, the Standard & Poor's 500 index, has now had its worst four-day start of a year in history. Crude oil also plummeted to the lowest level in more than 12 years. The Stoxx Europe 600 fell 1.5% on Friday after initial modest gains, ending the week off 6.7%, its largest one-week percentage decline since 2011.
In the meantime, Louks said that owners of the BlackBerry Priv should expect to hear some announcements on new accessories for the handset from third-party makers in the coming weeks. The full switch to Android does make sense, especially if you consider the diminishing appeal and support for the Blackberry OS platform. However, reports indicate the company is now ready to offer Priv through all the major carriers in the U.S.
Steep losses across global stock markets this week on fears about further slowing in the world's second-biggest economy have clouded investors' outlook on the greenback and on whether the Federal Reserve has room to raise USA interest rates further, if at all, in 2016, analysts said .
Trading in China was automatically suspended as a result. That set off a slump in Asian and European stocks. The Dow Jones industrial average sank 392.41 points, or 2.3 percent. Worries about China were fueled by weaker-than-expected December manufacturing activity. Most of the blame goes to China, which is believed to be the biggest threat to USA stocks this year.
China's stock markets have little connection to the rest of its economy but two sharp price declines this week have focused attention on the slowdown in the nation's growth. Hong Kong's Hang Seng advanced 1.1% to 20,559.34 and Seoul's Kospi was little changed at 1,903.14. The 19-nation currency jumped 1.4% to $1.0928 (nearly Rs 72.81) and rose 0.6% to 128.58 yen (nearly Rs 71.96).
Ongoing concerns over China's slowing economy and falling currency prompted the sell-off. Already this week, China's Shanghai composite plunged 10 percent while other major indexes like Germany's DAX and Japan's Nikkei 225 are down 8 percent and 7 percent, respectively.