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China just had a ‘Black Monday’

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Stocks plummeted across China on Monday, with 500 stocks hitting their 10% daily limit and 1,200 falling 7%, according to the South China Morning Post. They’re calling it another ‘Black Monday’

Analysts are blaming the panic on news out of a government conference on the financial system held over the weekend. At the National Financial Work Conference, chaired by President Xi Jinping, officials decided to create a special committee to oversee the regulation and deleveraging of China’s financial system over the next five years.

The regulator will continue to crack down on violations of securities laws and regulations, including insider read more >>>

Source:: BusinessInsider.Com

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