Feb 27, 2007

China Alert...come true!

Forewarned is Forearmed

Only last week we drew readers' attention to the technical aspects of the parabolic rise in the Shanghai Index.
Today the Shanghai Index semi-crashed by 8.8%

Here's some relevant news items:

  • China stocks sink 8.8 pct on crackdown fears Reuters - Tue Feb 27, 7:25 AM ET

    SHANGHAI (Reuters) - Chinese stocks plunged nearly 9 percent on Tuesday, erasing about $140 billion of value in their biggest fall for a decade, amid fears that authorities would crack down on speculation that drove shares to record highs.

  • Stocks plunge after big decline in China AP -

    NEW YORK - Wall Street fell sharply Tuesday, joining a global stock decline sparked by growing concerns that the U.S. and Chinese economies are cooling and that U.S. stocks are about to embark on a major correction. The Dow Jones industrials dropped more than 180 points.

  • Stocks sink on China, economic concerns Reuters - Tue Feb 27, 10:01 AM ET

    NEW YORK (Reuters) - Stocks tumbled on Tuesday after a weaker-than-expected economic report and a sharp fall in China's main stock index unnerved investors after two consecutive days of Wall Street losses.

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