US: Wall St rallies but markets still gripped by China fears

August 26, 2015 10:03 PM

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US: Wall St rallies but markets still gripped by China fears

[NEW YORK] US shares rallied strongly on Wednesday after a top Federal Reserve official hinted the bank would not raise interest rates, but there was little sign that the global financial turbulence rooted in China's market meltdown was over.

Even another rate cut by the People's Bank of China did not stem worries that slowdown in the world's second-largest economy could stall world growth.

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