The World Economy was put to the test yesterday by what experts called "The Black Monday".
The global sell-off was promted by a dramatic fall of the Shanghai Stock Exchange index, the biggest drop in the past eight years. This stumble of Chinese stocks triggered a domino effect on stock markets all over the world. Following a sharp decline of European stock markets, the New York Stock Exchange opened considerably lower.
The Dow Jones Industrial Average was no less than 6.5 per cent lower yesterday - a loss of over 1,000 points. Underlying this decline were fears of a significant slowing down of the Chinese economy.