$3TR

Finweek English Edition - - IN BRIEF - TRIL­LIONS WIPED OFF

Af­ter three days of declines, nearly $3tr in value was wiped from stock mar­kets glob­ally by the start of US trad­ing on 25 Au­gust, ac­cord­ing to ny­times.com. At the time of writ­ing, global mar­kets re­mained volatile, de­spite Chi­nese ef­forts to stem the fall in its mar­kets by cut­ting its prime lend­ing rate by 25 ba­sis points to 4.6% on 25 Au­gust – it’s fifth in­ter­est rate cut since Novem­ber. The JSE All Share In­dex was down only 2.3% for the week by af­ter­noon trad­ing on 26 Au­gust.

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