Posted on 08/25/2015 12:30:49 AM PDT by TigerLikesRooster
Shanghai Comp skids 7.63% to end at 8-month low
See Kit Tang | @SeeKit_T
The mayhem in Chinese equity markets showed no signs of abating on Tuesday, with the benchmark Shanghai Composite index accelerating its downfall in the final hour of trading to settle below the key 3,000 mark.
Japan's Nikkei 225 index was the second-biggest laggard in the region, closing down 4 percent, after turning negative in the afternoon trading session. Earlier in the session, the Tokyo bourse had staged a comeback, alongside most of the other regional stock indices, on the back of bargain hunting in beaten-down stocks and as the Dow Jones Industrial Average futures opened up more than 100 points Monday evening in the U.S.
(Excerpt) Read more at cnbc.com ...
P!
Just read this tweet
“Shanghai Composite dropping faster than a working girl’s fishnets. Another 7.6% today and 21% down over the last five days”
People are really hurting :-(
More tweets here...
https://twitter.com/search?q=Shanghai+Composite&ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Esearch
I wonder if there will be a drop off in Chinese studying at American universities?
U.S. futures are propped to look good for the moment, the Dow future at just over 16,000, S&P just over 1,900 and NASDAQ just over 4,100, thanks, in my guess, to those trying to calm markets. We’ll see what happens through the middle of the week.
The crash of 1929 was a long process. The current one, due to many safety measures, has been much longer so far.
Never underestimate Fed’s helicopters and plunge protection team.:-)
Just imagine what it must be costing the taxpayers to stave off an inevitable market crash.
My guess there will be a rush, as the connected Chinese cash out on the stock market rips from the manipulation they will then want to hide their money and since America is a well kept whore house they will end up here.
The princelings are protected.
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