Irish Stock Exchange drops 312 points as China's economy flags

The Irish Stock Exchange dropped 312 points today, as markets are hit by the impact of the economic turmoil in China.

The Dow Jones plummeted over a thousand points.

In London, the FTSE closed 288 points down.

Chinese shares have fallen by more than 38% since June.

Markets Editor with the Sunday Business Post Ian Guider said that the signals from the Chinese government have spooked the markets.

"If they have to ban people from trading stocks to try to keep the price higher, if they have got to devalue their own currency to try to spur the economy and spur exports, then things are much worse than anybody could have imagined," said Mr Guider.