FTSE 100 slides to 2015 low

The FTSE 100 share price has fallen to a year low amid concerns over China’s fluctuating stock market and recently devalued currency

 
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The FTSE 100 wasn’t the only index that reported a fall in price; with the both the S&P 500 and the Dow Jones seeing a two percent slide

For the eighth day in a row the FTSE 100 index has seen its share price tick down.

The UK benchmark closed down 35.56 points at 6,367.89 on Thursday.

The fall in share price is the result of growing concerns over economic growth rates in China.

Recently the People’s Republic chose to devalue its currency in an effort to make its exports cheaper and more attractive to foreign markets.

The Shanghai Composite Index has seen the most action of late, with its share price rallying by more than 60 percent between Q1 and Q2 of 2015.

Since then, however, the index has fallen by more than 25 percent, with others, like the HangSeng China Enterprises Index, which is designed to measure the performance of some of the biggest companies listed in Hong Kong, also falling by as much as 15 percent.

The slump followed news that activity in China’s factory sector shrank at its fastest pace in more than six years as domestic and export demand dived. China’s Shanghai Composite index tumbled 4.3 percent on the news.

The FTSE 100 wasn’t the only index that reported a fall in price; with the both the S&P 500 and the Dow Jones seeing a two percent slide.