Market calm emerges amid China angst: here's why

August 13, 2015 12:38 PM

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After two days of turbulence caused by China's surprise intervention in currency markets, global markets flashed signs of stability Thursday as stocks around the globe rebounded after China slowed the pace of yuan depreciation and its central bank took steps to reassure markets.

The stock market rebound began in China, where the Shanghai composite jumped 1.8%. Stocks also rose 1% in Tokyo and rebounded sharply in Europe after the worst day of the year on Wednesday. Around 8 a.m. ET, Germany's DAX, which tumbled more than 3% yesterday, was nearly 2% higher, while stocks in t...

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