Global stock slump continues: China hit hard
S&P 500 erases its gain for year, closes at two-month low, on track for worst week since 2011
The sell-off in global stocks that briefly looked to have ended mid-week has come back, tipping markets from the US to Asia into declines exceeding 10% from their January highs . China, where retail investors dominate, got hit particularly hard on Friday.
Equity traders have yet to get comfortable with a jump up in benchmark US 10-year yields to their highest in four years, and worries over the unwinding of bets against volatility in stocks continue to cast a shadow over markets.
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