FALLING

China Devalues Its Currency

The central bank of China weakened its currency early Tuesday in a move authorities said would allow the yuan to better adapt to market changes and stimulate trade to help the country’s waning economic growth. It was the biggest such adjustment since 1994. Instead of being fixed to either 2% above or below the U.S. dollar, the yuan will now trade within a limit based on how it closed in the previous day.