A sharp drop for Wall Street capped a day of declines around the world overnight after discouraging data on China raised worries about the global economy.

An unexpected key interest rate cut, skipping a report on how many of its younger workers are unemployed, plus the ongoing concerns of deflation, property slump and sputtering growth.

Worries about the knock-on effects for the rest of the global economy have weighed on markets and many have been asking if we are witnessing early signs of Japan-style deflation in China in the early 1990s?

Louis Teo, Senior Market Strategist at Fullerton Markets breaks it all down on the Bigger Picture.

Presented by: Sean Cheong