The deepest slide in China’s stock market since an epic 2015 rout prompted top officials to assure investors that they’re able to keep risks under control. In rare coordinated comments, the central bank and top regulators said they would steer financial markets back to health. Chinese equities reversed early losses.
Still, China faces more headwinds. Economic growth slowed in the third quarter as worsening trade tensions and the government’s debt-cutting campaign undercut growth.
Elsewhere:
-Asian stocks posted further losses after a downbeat U.S. session
-JPMorgan says the chances of a U.S. recession in the next two years now tops 60%
-Oil traded near the lowest level in almost a month
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