Europe’s shares tumble as China bids to quell fears

European stocks capped the worst week in more than four years even as Chinese authorities moved to stabilise the yuan and quell turmoil in financial markets.

And in the US, crude traded near a 12-year low at $33 a barrel as the calming effects of China’s attempts to shore up financial markets faded.

US government treasuries headed for the biggest weekly advance in a month and the US dollar strengthened.