Black Monday! Chinese Stocks Dive – Down 8.5% …Update: Dow Futures Down -666

Chinese shares plunged more than eight points in Monday trading.

More from Drudge Report:

 

The Australian reported:

Chinese shares plunged more than eight per cent in early trade, as fears about the deepening effects of China’s slowdown rattled investors across the globe. The benchmark Shanghai Composite was down 8.4 per cent to 3213.86, bringing its losses since its mid-June peak to roughly 37 per cent. China’s small-cap stocks are just as battered, with the Shenzhen benchmark last down 6.8 per cent at 1900.15. Share markets across Asia were also dragged into the turmoil, with Australia and Japan both shedding more than 3 per cent and a number of currencies in the region falling to multiyear lows. “Today has all the hallmarks of being one of the worst trading days of the past five years,” said Evan Lucas at IG Markets. “The reaction from Asia today will be symptomatic of the current investor sentiment and belief that a hard landing (in China) is inevitable.”

The Chinese Xinhua.net reported:

Chinese stocks dived at opening on Monday, with the benchmark Shanghai Composite Index down 3.83 percent to open at 3,373.48 points.

The Shenzhen Component Index opened 4.22 percent lower at 11,399.66.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, opened 5.1 percent lower at 2,222.54 points.

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