August angst rattles stocks

Global stockmarkets remained volatile after Black Monday, which saw some of the nastiest daily falls since the global financial crisis.

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Global stockmarkets remained volatile after Black Monday, which saw some of the nastiest daily falls since the global financial crisis. On Tuesday, China's central bank, the People's Bank of China, tried to cheer investors by adding liquidity to the system. It cut interest rates for the fifth time in nine months and further reduced the Reserve Requirement Ratio (RRR), the amount of cash banks must set aside rather than lend out. But the move failed to halt another decline on Wednesday, when the Shanghai Composite Index fell by 1.3%. That sealed the worst five-day fall since 1996, and unsettled European markets again.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.