Midday Roundup: World markets panic after Chinese stocks tumble

Stock market scare. China halted trading today after less than 30 minutes when its stock market tumbled 7 percent after the opening bell this morning. Stock markets across the globe responded in kind when they opened. Markets in Japan, Hong Kong, Australia, and India all fell about 2 percent in early trading. Britain, Germany, and France saw similar drops. Crude oil also took a beating, dropping to below $33 a barrel. By the time Wall Street opened, U.S. investors were ready to sell. The Dow Jones Industrial Average shed 300 points, about 1.7 percent, and the Nasdaq fell more than 2 percent. Once investors calmed down a bit, stocks began to recover, leading analysts to hope this morning’s sell-off might be nothing more than a bad memory by the closing bell. Chinese officials helped to soothe fears of another sell-off when they announced midmorning they would suspend the “circuit breaker” policy that helped cause today’s crisis. Critics say the artificial halt to trading only fuels investor fears and prevents the markets from bouncing back as they often do if left to their own devices.

Anniversary attack. Paris police shot and killed a man who charged a police station waving a meat cleaver this morning. The man yelled “Allahu Akbar” and appeared to be wearing an explosive vest as he approached the officers. After he was killed, investigators discovered his vest was fake. The incident fueled speculation of possible ties to the November attack in Paris that killed 130 people. In their claim of responsibility for the November attack, Islamic State (ISIS) militants mentioned eight attackers, but police only found seven. The ISIS statement also listed an attack in Paris’ 18th arrondissement, or district, which never happened. But today’s attack was in the 18th arrondissement, prompting security experts to wonder whether the attacker might have been part of the cell activated in November. Today is the one-year anniversary of attacks on the satirical newspaper Charlie Hebdo and a kosher market that left 17 people dead.

Embassy airstrike? The war of words between Iran and Saudi Arabia over the recent execution of a Shiite cleric allegedly exploded into a full-blown conflict today after Tehran accused the Saudis of conducting airstrikes against the Iranian embassy in Yemen. Reporters in Yemen said the building showed no signs of damage, although a Yemeni security guard said shrapnel from a nearby airstrike fell near the embassy compound. Iranian officials quoted on state-run media claimed some of the embassy’s staff suffered injuries. The Saudis promised to investigate the incident but noted it had no proof of any harm. Iran and Saudi Arabia are backing opposite sides in Yemen’s civil conflict, which many analysts see as a proxy war between the Shiite and Sunni powers in the Middle East.

Charged and fired. A Texas grand jury charged a state trooper with perjury over statements he made after arresting Sandra Bland, who allegedly hung herself three days later in her Waller County jail cell. The charge is a class A misdemeanor, a punishment Bland’s family says is too little, too late. They wanted Trooper Brian Encinia charged with assault because the dash cam video of his encounter with Bland shows what looks like him slapping her as she sat in her car. The perjury charge stems from statements Encinia made about the way he removed Bland from her vehicle. Shortly after the grand jury issued its indictment, the Texas Department of Public Safety announced it would fire Encinia. The grand jurors did not bring any charges against the jailers or other officials involved in Bland’s arrest and detention. Her family has filed a wrongful death lawsuit against Encinia and several Waller County and state officials. It is not expected to go to trial until 2017.

Died. Craig Strickland, lead singer of the country band Backroad Anthem, was found dead Monday after disappearing during a duck-hunting trip. He was 29. He was reported missing Dec. 27 while hunting with a friend on Kaw Lake, north of Tulsa, Okla. Search parties later found their boat capsized. Strickland’s wife took to social media hours after his body was found to confirm the cause of death: “The night of the accident, he had fought his way out of the water and up a hill before the stages of hypothermia set in.” Helen Strickland thanked Instagram followers for their prayers, adding “They found him lying in the shape of a cross looking up at his Father. … I know he saw Jesus at that moment when he laid down and walked arm in arm with Him into a better, everlasting life.”

Jim Long contributed to this report.