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Already Weakening, China Economy Faces New Blow From Stocks

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Christy Chen had big plans for spending her winnings from China’s stock market. The 34-year-old Beijing school teacher envisioned a European holiday, yoga club membership and a few more tailored dresses in the wardrobe.

With unrealized gains of 400,000 yuan ($64,400) in early June after a year of stock trading, Chen looked forward to luxuries unaffordable on her monthly salary of around $1,200. But the sudden plunge in equities that began mid-June wiped out most of her returns, scuppering her spending plans for now.