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Another sell-off caused by China?
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[quote:Anonymous Coward 134485:MV8zOTMyNTdfNjE5OTMwMF85Rjg5NTkyRQ==] perhaps the Chinese are trying to 'tell' their investors something by raising that tax. trying to tell them something [ like maybe don't be investing right now ] without coming out and directly saying it to cause a panic. maybe they are getting ready to get rid of ALL their dollars. one way or another. [/quote]
Original Message
China's stock market tumbles 6.5% after the government increases a tax on stock trading; other markets brace for a reaction. Private-equity firm Madison Dearborn Partners will acquire tech retailer CDW. Pulte Homes cuts jobs.
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May 30, 2007 -- 08:30 ET [BRIEFING.COM] S&P futures vs fair value: -5.5. Nasdaq futures vs fair value: -9.0. The S&P 500 and Nasdaq 100 futures are still signaling a noticeably lower start for the cash market as investors digest data that suggest... More
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MoreInvestors are hoping it won't be deja-vu.
China took another step to reel in its hot stock market, and the country's benchmark Shanghai Composite Index fell 6.5% in trading today, its worst decline since the 8.8% plunge in late February, which sent ripples around the global markets.
"Today's correction in Chinese shares is causing a knee- jerk reaction across Asia," Shane Oliver, money manager at AMP Capital Investors in Sydney, told Bloomberg News. "Markets have become skittish on this type of news given some of the extreme reactions in recent history."
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