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Chinese Stocks Sink 9% as Market Reopens

edited February 2020 in Off-Topic
“Chinese stocks plummeted by the most since an equity bubble burst in 2015 as they resumed trading to the worsening virus outbreak. ... The CSI 300 Index dropped as much as 9.1% as onshore financial markets opened for the first time since Jan. 23. More than 2,600 stocks fell by the daily 10% limit. China’s benchmark iron ore contract declined by its daily limit of 8%, while copper, crude and palm oil also sank by the maximum allowed. The yield on China’s most actively traded 10-year government bonds dropped the most since 2014. The yuan tumbled 1% to weaken past 7 per dollar.”

https://www.bloomberg.com/news/articles/2020-02-02/china-markets-reopen-to-turmoil-as-government-pledges-support

However, as of 10:30 PM, U.S. stock index futures were higher with the Dow and S&P both up +.66% (Stay tuned.)

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