I don’t think a stock market falls 8.4% in hours over concerns about slowing growth. I think the Chinese stock market is collapsing because investors have finally figured out that their entire economy is pretty much a con game.
Chinese Stocks Plunge: Shanghai Composite Goes Red For The Year, Wiping Out 60% In Gains
http://www.zerohedge.com/news/2015-08-23/chinese-futures-plunge-4-open
Plunge, baby, plunge! Got my plumber’s helper right here.
In the last week, the Shanghai Composite lost 12%, and since the middle of June they are down 30%, so with tomorrow’s loss they are looking at a drop of 38% in two months.
Another important point is their allowing (directing) their national pension fund to invest 30% of its reserves in the market. It will be interesting to see what happens.