Posted on 01/03/2016 11:02:35 PM PST by Zakeet
Following the initial halt in CSI-300 Futures at the 5% limit down level, the afternoon session opened to more carnage and amid the worst 'first day of the year' in at least 15 years, Chinese stocks collapsed further to a 7% crash. At 1334 local time, stock trading was halted for the rest of the day across all exchanges (at least two hours early).
[Snip]
Dow futures are now down over 150 points from NYE close, Gold and Treasuries are bid, and offshore Yuan has plunged most since the August devaluation.
(Excerpt) Read more at zerohedge.com ...
Here’s the Guardian article that explains what Chinese are calling “Circuit Breakers” mechanisms they’ve installed now on their markets....seems that despite China’s wanting free markets etc. the government will still determine what will flow or not and when....
Can citizens in China own guns?
see post 21 ...I don’t think they can...or at least these new mechanisms to curtail certain transactions.
Zero Hedge.
The global warming apocalyptic criers of the economy.
BTTT!
Oh my gosh! the longer I heard that the more I was cracking up...that’s soooo funny!
Bury some in the back yard.
But, by all means, buy and hold cash.
China’s economy is the perfect definition of a paper tiger.
Wonder how truthfully the True vigger and vitality of their military really is ?
Is the steel of their naval ships up to snuff ?
To answer this question is to look at the quality control of their construction secter.
Perfect recipe for disaster I’d say.
They're trying to wait for Obama to get out of office for the next 'correction' to hit.So they can blame it on Pres. Trump
Not going to work.Not with Trump, Cruz maybe, but not Trump.
That’s one good thing about having nothing in the first place, you have nothing to lose.
Chinese stock market crash?
Our Congressmen must be devastated.
Me wonders, the central commie planners in China know something that the rest of the country and the world doesn’t ? As in “ WE BETTED THE FARM AND WE ARE OUT OF FREAKING MONEY AND WE CANT LET THE POPULUS AND WORLD BANKS KNOW IT “
Already doing that, the first bank of Pillow and Matteress
Saturday’s Barrons recommended dividend stocks and junk bonds (carefully chosen of course).
If you have not yet seen The Big Short, do so at once, see it twice if you are not market savvy. See how the BIG BOYS work, neglect, gamble to destroy us all.
I agree. :-)
Let me guess...”China”
LOLOL....and the lyrics are??? Could it be China? I’m still laughing...where do these people come up with such things! LOLOL......
Are you THAT uninformed, that you don’t know that our markets have the same stop measures and have had them since the CRASH OF 1987?
Under the mechanism which only became effective Monday, a move of 5 percent in the CSI 300 triggers a 15-minute halt for stocks, options and index futures, while a move of 7 percent ‘close the market for the rest of the day’.
...
These mechanisms cause selloffs because people want to sell before the market shuts down if there is the slightest hint of panic.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.