Will China's slowdown hurt US and European stock markets?
'Oil plummeted 5 per cent on Monday to levels last seen during the financial crisis and a broad index of commodity prices fell to its lowest this century, as a rout in China's stock markets triggered a global sell-off.
In what China's state-owned news agency Xinhua dubbed 'Black Monday,' the Shanghai equity market fell 8.5 per cent, stoking fears the engine room of commodity demand growth is heading for a long-feared slowdown.
China is the world's largest importer of raw materials and the biggest energy consumer globally.
US and European equities were all caught in the rout with miners and energy companies leading the fall.''