US indices tumble at the open as pressure on yuan mounts

Equity indices were recovering today in the morning but they tumbled at the US open as a pressure on the Chinese currency mounts again. US500 is down 1.1% and US30 1.3%, while the German DE30 declines below 11600 points. At the same time emerging market currencies are under pressure too as investors flee to safety: bonds, gold (+1.7%) and silver (+3.1%!).

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