$767bn market cap wiped out in China plunge
As discussed in previous post “Blood On The Streets”: Chinese Market Crashes
The 7.4 per cent fall now ranks as the second-biggest fall this year for Shanghai stocks, behind a 7.7 per cent plunge on January 19. It also makes the cut as the fifth-biggest daily fall since 2000 . The index is now down 18.8 per cent since a multi-year closing high of 5,166.35 very near to bear market territory.
On an intra-day basis, the Shanghai Composite did enter a bear market, with a fall of 20.06 per cent from an intra-day high of 5,178.191 on June 12 to today’s intra-day low. On a closing basis, the level for a bear market is 4,133.08.
How quickly things change in Financial market, Whole world was going gung ho on Chinese market just 15 days back and now no once want to be in China as seen in below screenshot :).
Here we look at the Chines Stock Market Biggest 1 day fall