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  • China Bloodbath: Stocks crash despite emergency PBOC intervention, short sell ban, rate cuts

    China Bloodbath: Stocks crash despite emergency PBOC intervention, short sell ban, rate cuts

    As previewed on Friday and again earlier today when we noted the latest trades in China's A50 futures China's reopening from the long Lunar New Year holiday was set to be ugly, and sure enough with Chinese stocks resuming trade at 9am on Monday, a wave of selling was unleashed culminating in nothing short of a bloodbath with the Shanghai Composite crashing 9% at the open.

    H/T: Zero Hedge

    There is no relief in sight for Chinese stock traders as authorities announced Monday that the death toll from the coronavirus outbreak had risen to 361 people and the total number of people infected had risen to 17,205. The makes the corronavirus officially more deadly than the SARS outbreak in China back in 2002.

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