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Global stocks plummet on fears over world economy

Traders work on the floor of the New York Stock Exchange on August 21, 2015World stock markets were hammered with heavy losses on Friday, as China’s economic woes triggered European and Wall Street equity sell-offs and stirred up fears for global growth. Losses of more than 3.0 percent on Wall Street capped the day of market carnage, which began with a 4.27 percent drop in Shanghai after another unnerving sign of slowdown in China’s manufacturing sector.

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