China Stocks Plunge to Two-Year Low on Tariff Threat; Yuan Sinks
- Beijing vows to retaliate as Trump threatens more levies
- Shares also sharply decline in Hong Kong and Shenzhen
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China’s benchmark equity gauge tumbled to a two-year low and the yuan weakened as a worsening trade dispute with the U.S. spurred panic selling. Bonds gained.
The Shanghai Composite Index plummeted almost 5 percent in intraday trading before paring losses, while a gauge of technology shares sank the most in two years. China’s currency fell to a five-month low against the dollar and the 10 year-yield on government debt dropped two basis points.