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1 Sep 2017 07:51:58 UTC
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MM125 - Chinese Stocks Crash
First, first of all, THANK YOU TO THOSE OF YOU WHO DO GIVE TO THIS REPORT! Your support is very much appreciated, and I do not thank you enough.
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Good morning, the Chinese stock market has crashed 8.7% - the largest one-day drop since 2007.
In the past weeks, the communist Chinese government has tried its own version of quantitative easing to try to keep the bubble in the market from bursting.
Today we find out that the IMF has been advising China to stop its intervention so that market forces could set the true price of its shares. That may be the cause.
The question is how large will the effect be in European and the U.S. stock market? Currently the German and British stock markets are down more than 1.5% - the equivalent of a 280-point drop in the Dow.
But here is the worst news that will effect markets tomorrow; trading was halted in many large Chinese stocks this morning because they had exceeded the negative 10% limit imposed.
What will happen tomorrow when these stocks are cut loose?
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The Still Report
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English
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