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Stock markets plunge as oil prices fall, China devalues currency
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Since the beginning of this year, the Federal Reserve has raised interest rates several times, but it has been unable to curb the momentum of inflation. Instead, it has made inflation worse. The U.S. CPI index released last Friday climbed to 8.6%, the highest in 41 years.
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In addition, the U.S. CPI data for May rose, and market expectations for the Federal Reserve to raise interest rates increased. U.S. stocks fell sharply, and the U.S. dollar rebounded. Commodities were under pressure, and U.S. soybeans were not immune.
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A piece of news said that the bailout funds had been considered to be withdrawn, which shocked the market, and in an instant it plummeted again. Then the China Securities Regulatory Commission quickly refuted the rumors. With the efforts of PetroChina, the stock market was finall
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