Market Rout Deepens in Asia as Stocks Slide to a Two-Year Low

Stocks plunged across Asia and U.S. index futures signaled more losses as the selloff in commodities deepened, sending South Africa’s currency toward its biggest drop in two years. The cost of insuring Asian debt jumped with the yen.

More than $5 trillion has been wiped from the value of global stocks since China unexpectedly devalued the yuan, triggering concern that the slowdown in the world’s second-largest economy is deepening.