Worries about China's growth in recent days have unnerved investors across Asia, the U.S. and Europe, pressured emerging-market currencies and commodities and driven cash toward safer assets like gold. Analysts say they are on the lookout for fresh stimulus efforts from China, possibly as early as this weekend. Losses this week in Hong Kong, Taiwan and Indonesia pushed those markets into bear territory, defined as a drop of more than 20% from a recent peak. Shares in Japan fell 3% Friday, logging their biggest weekly loss in a year by tripping 5.3%." The Wall Street Journal reports.

The New York Times writes, "Stock markets around the world plummeted on Thursday, signaling that investors have not gotten over the shock of China's devaluation last week and remain nervous about the health of the global economy. The selling began in Asia, punishing Chinese stocks once again. It then moved to Europe, walloping markets in Germany and Italy, and ended with a rush for the exits in the United States. Along the way, the price of oil traded near six-year lows and currencies of developing countries suffered further pain. Astonishingly, the currency ofKazakhstan lost a fourth of its value against the dollar after the country's government let it trade freely in the markets."