World financial markets largely shrugged off a sharp tumble in the red-hot Chinese stock market on Wednesday, with the US S&P 500 index ending the day at an all-time high. Chinese shares swung wildly Wednesday, with the Shanghai Composite Index sinking almost 5 per cent and ultimately ending the day up 1.4 per cent at 4,109.654 reports the Financial Times.

Read it here: http://www.ft.com/cms/s/d3301c60-0e5c-11dc-8219-000b5df10621.html