Great fall of China: Shanghai and Tokyo markets plummet for a second day

Markets have plummeted in Asian markets for a second day as China’s slowing economy continues to tear through financial markets around the world.

The sell-off – which was mirrored across Asia, Europe and the United States – came after the Chinese stock market plunged 8.5 per cent on what was named as ‘The Great Fall Of China’. Analysts described ‘a day of massive panic’ on global markets.

This morning, Shanghai stocks tumbled a further 6.41 per cent in early trading, while Tokyo shares also fell 4.13 per cent.