China’s Stocks Sink Most Since 2007 as State Intervention Fails

China’s stocks plunged the most since 2007 as government support measures failed to allay investor concern that a slowdown in the world’s second-largest economy is deepening.

The Shanghai Composite Index tumbled 8.5 percent to 3,209.91 at the close to erase its gains for the year. The Hang Seng China Enterprises Index of Chinese stocks in Hong Kong fell 5.8 percent to its lowest level since March 2014. Futures on the CSI 300 Index declined by the 10 percent daily limit.