Goldman jitters and the pledge of China’s central bank to immediately implement new lending rules to curtail property speculation have resulted in the Chinese Shanghai Composite Index plunging by a massive 4.8% this morning.
After today’s sharp sell-off, the Index (2,980 at the time of writing) is the only major bourse trading below both its 50-day (3,055) and 200-day moving average (3,096).
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