August 25 2015
From IBM times - 5 tillion lost since Yuan's devaluation
Yesterday, August 24, 2015 is now known as Black Monday. Dow Jones and China capital markets were marked by massive sell off. PSE yesterday lost about 6 % and its index slid below 7,000. The market value that was wiped out was P764 billion.
That is nothing compared to what was lost world wide - $5 trillion since August 11, 2015 when yuan devalued. The event is now known as China fall- Chinas output has declined, it magical economic engine is slowing down. Demand for raw materials worldwide from its ldc supplier will decline and will cause severe economic down turn in those countries
The fall is so devastating that Apple lost $150 billion of its market value last Friday
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