New China stock market plunge prompts global jitters

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)

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