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Source: Bloomberg

Global markets shuddered today as turmoil emanating from China spread around the world and billionaire George Soros warned of a crisis, reports Bloomberg.

Chinese shares fell 7% within a half hour of opening, triggering a full-day trading halt, after the central bank cut the yuan’s reference rate by the most since August. Other equity markets tumbled, with European shares falling the most since September and US futures indicating a lower open.