The Shanghai Composite Index dropped more than 8% in early trading due to heightened anxiety over the coronavirus and its impact on the global economy
Chinese markets dropped sharply Monday morning, reopening after the extended Lunar New Year break, due to heightened anxiety over the fast-spreading coronavirus and its impact on the global economy.
The benchmark Shanghai Composite Index fell 8.1% in early action, on the first trading day of the Year of the Rat, putting the index on pace for its steepest one-day decline since August 2015. Retail, consumer services and transportation stocks led the declines. The Shenzhen Composite dropped 8.6%.
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