China enters bear market with 30 percent drop in three weeks
China entered bear market territory today with the Shanghai Composite Index suffering a painful drop of 125 points or 4.3 percent, ending the day at 2785.5.
This slide increases the index's losses to nearly 30 percent over the last three weeks as investors pull out of what has become an overheated market. It has been an abrupt end to its six-month rally. Word that the Chinese regulators may not step in to prop up the market has only intensified these jitters.