Locked in (Quarantine)

Gray Tuesday

The Chinese stock bubble of 2007 (simplified Chinese: 中国股灾; traditional Chinese: 中國股災; pinyin: Zhōngguó gǔ zāi) was the global stock market plunge of February 27, and November 2007, which wiped out hundreds of billions of market value. After rumors that governmental Chinese economic authorities were going to raise interest rates in an attempt to curb inflation and that they planned to clamp down on speculative trading with borrowed money, the SSE Composite Index of the Shanghai Stock Exchange tumbled 9%, the largest drop in 10 years.The plunge in Asian markets sent ripples through the global market as the world reacted to the 9% meltdown in the Chinese stock market. The Chinese Correction triggered drops and major unease in nearly all financial markets around… more »