Bear Market in Stocks, Weak Yuan Show China Problems Piling Up
- Shanghai benchmark has fallen 20% from its January high
- Trade war, deleveraging, slowing growth are reasons to sell
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A deepening sense of unease is rippling through China’s financial markets.
The benchmark Shanghai stock index has tumbled 20 percent in just five months to enter a bear market. The yuan is on track to match its longest losing streak on record in Hong Kong. Corporate defaults are mounting.