China’s central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe. The move came as Chinese stock indexes nosedived more than 7 percent on Tuesday to hit troughs not seen since December, and after shares had plunged over 8 percent on Monday. The latest policy easing also followed a shock devaluation in the yuan CNY=CFXS two weeks ago, a move that authorities billed as aiding financial reforms, but that some saw as the start of a gradual slide in the currency to help stumbling exporters. “Frankly this shows a bit of panic in my […]