US stocks fell in the worst trading day of the year on Monday after China allowed the value of the yuan to sink to an 11-year low. The devaluation of the yuan was the latest step in the United States-China trade war.
It followed a threat by US President Donald Trump on Friday that the US would impose another $300bn in tariffs on Chinese imports. Beijing is also moving to stop companies from buying US farming products.
Al Jazeera’s Scott Heidler reports from Beijing.