Shares in London, Berlin, and elsewhere have partly rebounded from yesterday’s losses despite further losses in China.
In early morning trading the FTSE 100 rose 1.6% to 5,994.11, while Germany’s Dax and Paris Cac were both up about 1.4%.
Meanwhile in Asia, shares continued to tumble with the main Shanghai Composite index closing down 7.6% at 2,964.97 points and Tokyo’s Nikkei index 4% lower.
China’s slowing growth has caused shockwaves in financial markets around the world as trader fear that reduced growth in the world’s manufacturing engine would mean less business everywhere.
After 30 years of rapid growth, China’s economy has started to cool despite heavy intervention by the country’s government.