Eastern time. Facebook rose $2.08, or 2.1 percent, to $100 and Apple, which is trading at its lowest prices in more than a year, picked up $1.81, or 1.9 percent, to $98.26. economy is from global stresses. "It's getting into a stage where it is self-fulfilling - the weaker the yuan gets, the more selling there will be", said Hao Hong, the chief market strategist at Bank of Communications International.
Those halts, which were triggered twice this week, are increasingly seen as inadequate for preventing volatility. Alibaba (BABA.N), in which Yahoo has a stake, was down 6 percent at $72.72. The Chinese government, which closely controls the renminbi, has been allowing the value of the currency to decline steadily as a way to bolster the economy.
The Dow lost 392 points the day before. After starting the day with a 138-point bounce, the Dow is now down 66 points. In the USA, the Dow Jones industrial average sank 2.3% and the Standard & Poor's 500 lost 2.4% on Thursday. Citigroup gave up $2.56, or 5.1 percent, to $47.56. In other energy trading, wholesale gasoline declined 1.6 cents to $1.146 a gallon and heating oil lost 1.5 cents to $1.066 a gallon.
To appreciate just how focused investors are on Shanghai, look at Thursday's reaction to news that China would suspend the week-old circuit-breaker system that the night before halted trading after 29 minutes. The FTSE 100 index of leading British shares declined 0.7 percent while Germany's DAX lost 1.3 percent. To exacerbate the problem, crude oil plummeted to the lowest level in more than 12 years.
Japan's Nikkei 225 dropped by just over 7 per cent in the period, with five consecutive days of losses. Meanwhile, the unemployment rate held at a more than seven-year low of 5.0 percent in December, matching expectations. EUROPE: Stocks in Europe were mixed. Gap rose $1.17, or 4.6 percent, to $26.46. Declining issues outnumbered advancing ones on the NYSE by 2,704 to 415, for a 6.52-to-1 ratio on the downside; on the Nasdaq , 2,492 issues fell and 390 advanced for a 6.39-to-1 ratio ...
Investors also cheered as China stopped allowing its currency to lose value. Chinese stock markets were in full disarray Thursday, halting trading within just 30 minutes of opening as prices slumped 7% and triggered the "circuit breaker".