Wednesday, 27 January 2016

US and European stocks rise but Chinese stocks face more falls after plunge

US stocks rose on Tuesday.

The S&P 500 gained 1.4 percent, boosted by a 3.7 percent jump in oil prices.

The STOXX Europe 600 rose 0.9 percent.

The rise in oil helped US and European stocks shrug off a 6.4 percent plunge in the Shanghai Composite Index earlier on Tuesday.

The worst may not be over for Chinese stocks. According to Bloomberg, technical indicators suggest that China stocks may fall another 10 percent.

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