Morning Markets: China policy reversal whacks equities

Another week and another Chinese central bank policy about turn that sees it stop its $200 billion equity-buying spree has upended last week's tentative recovery and sent Asian bourses sharply lower. Markets also continue to digest the implications of this weekend's Jackson Hole central banker jamboree, and wonder whether the Fed was as hawkish as appearances suggested and if a September US rate hike is still on the cards.

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