Beijing’s sweeping crackdowns of its technology and education sectors has unleashed shockwaves across global markets, causing U.S.-listed Chinese stocks to post their biggest back-to-back losses in over a decade.
The Nasdaq Golden Dragon China Index plunged 5.2% Monday after regulators in China unveiled an overhaul of its education sector that bans firms that teach school subjects from making profits, raising capital or going public. The gauge -- which tracks 98 of China’s biggest firms listed in the U.S. -- is on pace for its biggest two-day drop since 2008 and has lost more than $740 billion in value since reaching a record high in February.
China Stocks in U.S. Erase $740 Billion as Crackdown Deepens - Bloomberg
Read More
No comments:
Post a Comment