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IPFS News Link • China

Beijing Powerless As Chinese Stocks Crater After Trump Confirms He Will Impose 60% Tariffs

•, by Tyler Durden

Last week's dead cat bounce in Chinese stocks - after Beijing did everything but launch a multi-trillion fiscal stimmy bazooka (something it will do, later if not sooner) - is a distant memory, and as Asian markets open for trading in the news week, Chinese markets are cratering with the Shanghai Composite plunging as much as 3.1% to a fresh five-year low..

... while the broader CSI 1,000 Index is also in free-fall and also on pace to re-test the 2018 lows with as many as 990 of the 1000 companies of the index in the red.