Stock markets hit 8-year lows

China's deeply troubled stock markets slid further as the benchmark Shanghai Composite Index closed at a fresh eight-year low Friday at 1,013.64 on fears of more losses ahead as the government plans to float more of its holdings in the market. The close marks the lowest since February 24, 1997 after three consecutive sessions of losses in which the index lost 3.8% of its value. Analysts and traders say the index could fall through the 1,000-point threshold unless Beijing finds a way to restore investor confidence.