Global Stocks Cap Worst Month Since May 2012; Crude Oil Surges
- Dow sinks most in August since 2010 amid China growth angst
- Oil surges into bull market with best three days since 1990
Outlook for Global Growth: Are We in Deep Trouble?
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U.S. stocks joined a renewed selloff that sent global equities to their worst monthly slump in more than three years, as confidence waned that China will be able to prop up its markets.
Concern that slowing Chinese growth will hamper global expansion reemerged as Federal Reserve officials signaled they are prepared to raise interest rates as soon as next month. The Standard & Poor’s 500 Index added to its August decline, while the Dow Jones Industrial Average capped its biggest monthly drop in five years and Chinese shares capped their worst selloff since 2008.