CLOSE
US shares continues the descent on Thursday, as traders reeled from the rout in China.
The Dow Jones closed out 393 points down, or 2.32% to 16,514, while the tech heavy Nasdaq lost 147 points to 4,689.
The S&P500 finished 47 down at 1,943.
MID- SESSION
It’s a case of glum, glum and glummer for markets on Thursday as investors continue to flee from risk.
The Dow Jones Industrial Average opened Thursday at 16,719, down 188 points, while the broader-based S&P 500 shed 23 points at 1,967. The Nasdaq Composite lost 76 points to open at 4,760.
Overnight, Chinese trading was halted again amid fears about the country's currency, sending global markets into a tailspin.
Chinese shares had plummeted as jitters engulfed markets about the speed in which the yuan (CNY) is devaluing.
Meanwhile, oil stocks continued to struggle as the West Texas Intermediate price slumped another 1.8% to US$33.37.
Exxon Mobil Corp (NYSE:XOM) slipped more than half a per cent to US$77 while Chevron (NYSE:CVX) spilled more than 2% to US$84.27.
PRE OPEN
If you woke up hoping things would be better in the markets today - think again.
US shares are poised to open much lower on Thursday after a day of investor jitters yesterday sent investors fleeing from risk.
The Dow Jones Industrial Average closed Wednesday at 16,907, down 252 points, while the broader-based S&P 500 shed 27 points to close at 4,836. The Nasdaq Composite lost 55 points to finish at 4,836.
Today, futures in the Dow Jones are down a whopping 390 points, the S&P500 futures are 47 points below and the tech heavy Nasdaq futures are trading down 137.
In London, FTSE100 is down 164 points - to fall below 6,000 as traders are reeling from another the dismal market performance in China overnight and a further fall in the price of crude.
In China, trading was suspended half an hour after opening - the second suspension this week, after a plunge of 7% after the People’s Bank of China allowed the yuan to fall further against the dollar, increasing anxiety about the pace, or lack of, of growth in China.
Meanwhile, crude oil futures fell by up to 5.5% to just above US$32 per barrel, the lowest in more than a decade. The spot price of US crude is now at US$33.18 - a decline of 2.3%.
A big focus later in the US will be jobs data, ahead of the as-always closely monitored nonfarm-payrolls report due to be published tomorrow.