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Stock markets fall most in 4 Years on worries about China


Aug 22, 2015 (LBO) - International markets took a beating on Friday on worries about China's economy. The Dow Jones Index fell 3.1 percent to finish at 16,459 points. The market is down 10 percent from its all-time high in May after its 1,000 point drop this week. This has been the dow's worst week in four years.
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Stocks began falling last week after China announced a devaluation of the yuan.
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On Friday, there was more negative economic data.
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A reading of business activity in China known as the Caixin purchasing index fell to 47.1. Anything below 50 suggests business activity is shrinking. A slowdown in the Chinese economy could affect companies such as Apple which depend on demand from China. Apple Inc. shares fell six percent. China's Shanghai Composite market index plunged 4.
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2 percent on Friday. Brent Crude oil prices were similarly weaker down 2.
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5 percent to 45.46 dollars per barrel.
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