Australian shares have defied predictions of a second straight day of carnage as the big banks helped the domestic market recovered its opening losses.
US stocks have finished sharply lower but far above the session's floor following a bruising day in global financial markets sparked by mounting worries over the Chinese economy.
More than $70 billion has been wiped from the Australian share market as fears about China's economy sparked its heaviest fall in six and a half years.
The Australian share market has plunged at the start of trade, with losses being felt across the board from banks to resources stock as uncertainty grips global markets.
US shares have sunk more than 2.0 per cent with the Dow dropping to its lowest level for 2015 as worries spread about the strength of the world economy.
Willis is set to become one of the largest insurance brokers in Western Australia after buying CKA Risk Solutions, which was established in Perth 11 years ago.
Wall Street stocks have finished lower following a mixed batch of earnings from retailers, including Wal-Mart Stores, which tumbled 3.4 per cent after slashing its profit forecast.
The Australian dollar is struggling to gain any ground, weighed down by Chinese share market volatility and an imminent Federal Reserve interest rate rise.
Gains by Disney, Apple and some other large equities have helped lift US stocks into positive territory ahead of earnings from Wal-Mart Stores and Federal Reserve meeting minutes.
The Australian dollar is slightly lower, while putting in an improved performance after last week's losses on the back of China's currency devaluations.
The Australian dollar is only slightly lower as traders shrug off last week's Chinese yuan devaluations and await the minutes of the Federal Reserve's July meeting.
Wall Street stocks have finished little changed in choppy trade as retail sales bested expectations, even as leading department stores reported lower profits.
