China's stock slide continues, despite government intervention
Chinese stocks continued to plunge Wednesday, despite the government's latest moves to stabilize the market. After making brokerage firms pledge $20 billion to buy up the stocks of large companies, China on Wednesday took a similar approach with small and medium-sized businesses. Nevertheless, the main Shanghai and Hong Kong indexes both had tumbled around 6 percent by the time the markets closed. The weeks-long slide is the worst since 2007, and has been blamed on an overheated market fueled by investor borrowing. Read more at The Associated Press and The New York Times.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
