Another day, another slide. The CCP is running out of tricks in its bag and the endgame for the global financial system is almost near. As a previous article had stated, after China loses control, there’s no one else left to prop up the global economy and all will come down like a ton of bricks.
Devaluation of yuan and Beijing’s moves to halt shares sell-off fails to prevent biggest one-day fall in three weeks for Shanghai Composite Index
China’s Shanghai Composite Index plunged more than 6% in its biggest drop in three weeks, amid fears that the recent change in exchange rate policy may accelerate flows of capital out of China.
The Shanghai Composite Index fell 6.2% to 3,748.16, its largest fall since an 8.5% dive on 27 July that was the biggest slide in eight years. .
The plunge came despite Beijing taking measures to support the index following a year-long boom and the steep drop which started in June.
To halt the fall, the government imposed a ban on major shareholders from selling any of their shares. The stability proved short-lived, however, as sell-offs restarted, rattling other financial markets.
Full article: New China stock market plunge prompts global jitters (The Guardian)
