Chinese sell-off spooks oil traders

Filed under: Major movement, International markets, China, Middle East, Market matters, Money and Finance Today, Japan, Economic data, Oil, Recession, Financial Crisis

Oil traders have been selling off the precious crude Monday, as a steep sell-off of China's benchmark index raised concerns over the current state of both the Chinese and U.S. economies.

The Chinese Shanghai Composite Index took a beating to start off the week, trading down 6.74%, and raised fresh concerns over a global economic rebound. Today's sell off in the Chinese market was its biggest decline since June of 2008. The sell-off comes on the heels of a near 3% drop in the index last Friday.

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Chinese sell-off spooks oil traders originally appeared on BloggingStocks on Mon, 31 Aug 2009 15:00:00 EST. Please see our terms for use of feeds.

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