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China’s Shanghai Composite Index Falls Below 2,000 Level

China’s Shanghai Composite Index fell below 2,000, heading for the first close below that level since January 2009, on concern the government isn’t loosening monetary policy fast enough to counter the slowdown in the economy.

The benchmark index dropped to as low as 1,999.48 and was down 1.3 percent to 2,002.45 as of 2:58 p.m. local time. The Shanghai Composite reached a record high of 6,092.06 on Oct. 16, 2007.

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