Oil fell the most in two months, paring the biggest three-day rally in 25 years as speculation faded that OPEC might coordinate with other nations to curb supply.

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While campaigning for a fourth term, Canada’s Prime Minister seems reluctant to admit oil’s toll on his country’s economy.

Read more: http://www.cnbc.com/id/102964027

The Shanghai Composite Index extended its biggest two-month loss since 2008 after traders reduced holdings of shares purchased with borrowed money for an 11th day and an official factory gauge fell to the lowest reading in three years. China-focused hedge funds probably had their worst month in almost 16 years in August, with firms including Orchid Asia Group Management and APS Asset Management Pte. suffering losses from the nation’s stock market collapse.

Gains in European stocks proved fleeting as energy producers followed oil lower after Chinese shares wobbled in their last day of trading this week.

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China stock probe sends out shivers

Shared from Reuters TV

The Australian dollar (Exchange: AUD=) cracked below the key psychological level of $0.70 for the first time in over six years on Wednesday as investors shunned the currency amid concerns around China’s darkening economic outlook, the rout in commodities and sluggish domestic growth. The currency fell as much as 0.4 percent against the U.S. dollar in early Asian trade to hit $0.6968, its …

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The euro is likely to be in focus at this week’s European Central Bank (ECB) policy meeting, as a new wave of currency strength threatens to undermine the central bank’s efforts to boost inflation in the euro zone. The ECB will hold its regular meeting and news conference on Thursday and while no major policy changes are expected to be announced by the central bank’s President Mario Draghi, he …

Read more: http://www.cnbc.com/id/102962824

European markets traded higher on Wednesday, after their Asian counterparts pared some losses in a volatile trading day. In the all-important Chinese market, the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index swung widely between positive and negative territory. It closed down 0.4 percent after falling as much as 4.6 percent during the session. This came ahead of a long …

Read more: http://www.cnbc.com/id/102964819

Markets continue their wild swings as investors consider the health of the world’s two biggest economies. China set the tone on Tuesday with its official manufacturing gaugeslumping to a three-year low. A U.S. factory report expanded at the slowest pace since May 2013, contributing to the third-biggest drop in the S&P 500 Index this year. Asian stocks, as measured by the MSCI Asia Pacific Index, have swung between a gain of 0.4 percent and a loss of 1.1 percent.

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You want evidence of the deleterious impact of high frequency trading and ETFs? Then look no further than the 1,000-point move on the Dow (Dow Jones Global Indexes: .DJI)on Monday; that’s 1,000 points down, followed by a rapid 1,000-point rise. For several years I’ve noted the way this trading has fundamentally changed the operation of markets. Markets do not collapse without warning. True, …

Read more: http://www.cnbc.com/id/102964406