Billionaire investor George Soros has said global markets are facing a crisis reminiscent of 2008, as this year begins with plummeting Chinese stocks and reverberations across global markets.
Chinese markets opened the year with a 7% fall, triggering a a new circuit breaker mechanism introduced after the Black Monday scenario in August to suspend trading for the day. However, on Thursday China ditched the new mechanism, after it was triggered for the second time in a row following the shortest trading session in history when the market plummeted another 7%. Speaking to Bloomberg, Soros (pictured) said: "China has a major adjustment problem. I would say it amounts to a crisis. When I look at the financial markets there is a serious challenge which reminds me of the crisis w...
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