European equity desks had a rude awakening from the summer lull on Monday, as fears over the stability of China’s economy rippled through world markets and sent volumes soaring past previous records for the year.

The value of trades on dark and lit exchanges across Europe reached €114.2 billion by the time markets closed on August 24, according to data from Bats Global Markets. The figure - which was double the average daily volume for August so far - exceeded even that of January 15, when the Swiss National Bank abandoned its currency ceiling and sent markets into paroxysms, resulting in €90 billion of volume.