By: Elliott Wave International
The Shanghai Composite fell another 8% at the open on Wednesday (July 8). Trading was soon halted by the authorities. (But for a different reason that the trading halt on the NYSE the same day.)
From its all-time high on June 12, China's main stock index is down 32%. Using the word "crash" is becoming appropriate.
"At the moment there is a mood of panic in the market and a large increase in irrational dumping of shares, causing a strain of liquidity in the stock market," said China's Securities Regulatory Commission on Wednesday (bold added).
But the "dumping of shares" is not the only type of selling that's going on in China right now. Bloomberg reports that (bold added), Continue reading "China: What Deflation Looks Like"
