After watching a stock-market collapse wipe out $5 trillion of wealth in less than three months last year, Chinese authorities hatched a plan to stem the pain: circuit breakers that would be triggered by daily declines of 5 percent.
The new system went into effect on Jan. 4. It lasted all of four days. After two harrowing sessions -- on Monday and Thursday -- that tripped the breaker repeatedly and convulsed global markets, officials suspended the system. While they didn’t explain their rationale, the decision effectively is an...
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