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Business this week
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Stockmarkets had another rocky week. The NASDAQ index recorded its biggest one-day decline in more than seven years and the Dow Jones Industrial Average fell below the level at which it started the year. A co-ordinated confidence-boosting effort by senior government officials in China pledging support for markets helped its stockmarkets chalk up their biggest single-day gains in almost three years. But the positive sentiment soon evaporated.
The tiger’s tail
China’s economy grew by 6.5% in the third quarter, year on year. That was the slowest pace since early 2009, in the depth of the financial crisis. The figure does not yet fully reflect the trade war with America, because the largest portion of tariffs imposed on Chinese exports came into effect only in late September. More penalties are due to be implemented in January.
Deutsche Bank released disappointing quarterly earnings. The German bank recorded sharp declines in sales and trading revenue compared with the same three months last year, a contrast to the increased income reported by American investment banks. Net profit fell by 65%, to
「经济学人」本周经济要闻 Business this week