Nikkei down 1.6% on China news

<p>The Nikkei lost 1.6 per cent of its value.</p>

The Nikkei was down 1.6 per cent today (April 15th) on the back of worse than expected economic data for China.

Growth in the Asian nation was 7.7 per cent in the first quarter of the year compared with last year, down from the eight per cent analysts had predicted.

Stocks around the world dropped as a result of the growth news, with the FTSE 100 down by 0.8 per cent and the Shanghai Composite losing 0.8 per cent, reports CNN.

The Hang Seng was down by 1.4 per cent as the impact of the Chinese economic data was felt all over the globe.

Gold prices have also been plummeting and at 16:00 BST are 12 per cent lower than two days ago, losing over six per cent today alone.

Today's stocks news is in sharp contrast to earlier in the month, when both the Dow Jones and the Standard & Poor's 500 both closed at a record high.

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