Market Extra: Here’s why investors are anxious about China’s next move

Weakness in China’s yuan and already soft equity markets are causing concern among investors haunted by memories of the August 2015 devaluation scare and its impact on financial markets.

On top of that, investors are awaiting third quarter gross domestic product data due at 10 p.m. Eastern on Thursday, which is expected to come in at 6.6%, down from 6.7% prior and at its weakest level since 2009.

Meanwhile, China’s Shanghai Composite SHCOMP, -0.02% closed Thursday’s session 2.9% lower and has dropped almost 25% in the year so far, according to FactSet. According to Capital Economics’ markets economist Oliver Jones, pain could intensify as the outlook for China’s economy and the U.S.

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