More pain😩 from China🇨🇳

  |   India News

On Thursday, the Nifty 50 fell 🔻2.23%, or 172.70 points, closing at 7568.30 while the BSE Sensex fell🔻 2.18%, or 554.50 points, to 24851.83 as China devalued📉 its currency💴 by 0.51%, causing fears that its currency would be valued at around 5% as was done in August last year. This has not just affected China🇨🇳, but the globe and 🇮🇳 was not exempt as China’s $🔟 trillion economy contributes $250 billion 💰 more than the US to the global economy. The falling commodity prices indicate that there is no demand which indicates the condition of the 🌍 economy. With Brent crude trailing at $33.30 a barrel🛢, falling commodity prices is good news for 🇮🇳 but slowdown in global economy is not. There are also fears now that the situation may worsen and 🇮🇳 mightn’t see the 8% growth this year.

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