saw oil prices falling around 4 per cent so it s the 2nd largest economy on the planet sold china might have some trouble some turbulences and that could hinder economic growth so that could mean less demand for oil and therefore be plunged to the lowest level since a general overall the losses were limited to but as i said specially those companies and everything that has to do with china in the broader sense i did see some losses your own words that. well china sneezes and the world catches a cold but meanwhile investors are also looking towards the upcoming g 20 summit as the next opportunity for the u.s. and chinese sides to come together do you see any optimism there. well it remains open but let s put it this way if we would see a lot of pessimism then the stock market at this point probably would react to
a did see some losses here on wednesday. well china sneezes and the world catches a cold but meanwhile investors are also looking towards the upcoming g 20 summit as the next opportunity for the u.s. and chinese sides to come together do you see any optimism there. well it remains open but let s put it this way if we would see a lot of pessimism then the stock market at this point probably would react to a much more negative than what we see right now or losses overall were rather limited here on a wednesday if we might see any kind of a deal or stop towards 21 really remains to be seen u.s. president donald trump is talking about that he wants china to agree to 5 major points he did not specify which points he mean that s all it s all open and we have to wait till the end of the month to the g. 20 in japan and see if there are any developments that get us closer to
allies. this breakdown between the rivals is a disaster for u.s.-backed syrian peace talks, which both countries have attended in vienna. it s seen as a proxy war. but hopes of an agreement seem bleak while escalation seems real. many blame iran for the crisis, not saudi arabia. iran is undermining every sunni government in the region. and yet the kingdom of saudi arabia is doing nothing to undermine the iranian government. yet, why are we cuddling up and nurturing the iranians as opposed to our allies in the region? yet another affront to the west, iran unveiled a new missile depot on tuesday with state television showing precision-guided missiles which violate a security council resolution. in october iran tested those missiles, capable of carrying a nuclear warhead in defiance of the u.n. deal. leading many to question whether the deal should ever have been done. brett? benjamin hall in london, thank you. china sneezes and the rest of the world catches cold.
you see during the 15-minute period where trading is halted, inve investors lined up sell orders. they put them in and it hit that 7% mark. that s what automatically halted trading for the day. matt, most american european investors have zero exposure to the chinese stock market. they have american stocks or european stocks. multinationals. they have a basket of different things. why are american or european investors getting slammed if this is a chinese stock market issue? it is because the chinese economy is slowing and no one knows how quickly it is slowing. reporter: that s exactly right. i think we mentioned it earlier this week when you and i spoke. in the sense when now it s when china sneezes, the whole world gets a cold. you saw the manufacturing
looks to be the dow down around 390. the nasdaq down around 146. as you mentioned the dow and nasdaq both briefly touching correction territory throughout the day and it s volatile trade. we started the day off with a steep drop. bounced back a bit during the day. then it touched session lows again. concerns here really over china and the chinese economy suffering and the government continuing to devalue their currency there, the yuan. when we hit lows of the day it was on a reuters report the yuan would drop further, potential 10% to 15% drop. that s something to continue watching. back over to you. wikate rogers from cnbc. josh is with us as well. josh, why are we hearing this phrase, increasingly, and there s been various perm utations of this throughout history when china sneezes, wall street could catch a cold? for a couple of reasons. china is the u.s. third largest