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China’s Stocks Drop to Lowest Level in Nearly Four Years

  • Shanghai’s benchmark gauge closes at weakest since 2014
  • Trade war, poor company fundamentals are weighing on market
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A Lot of Asian Markets Look Very Cheap Now, Says Coutts' Keleman
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China’s sinking stock market reached an unwelcome milestone, with the Shanghai Composite Index closing at the lowest level since 2014, erasing the last traces of its recovery from a boom that turned into a $5 trillion bust.

The Shanghai gauge dropped 1.1 percent to 2,651.79, below its January 2016 bottom. Back then, officials had just introduced and then hastily scrapped a disastrous circuit-breaker program as they grappled with one of the market’s worst-ever routs.