China shares give up this year's gains in brutal selloff

August 24, 2015 9:40 AM

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China shares give up this year's gains in brutal selloff

SHANGHAI Chinese stocks plunged more than 8 percent on Monday, posting their biggest one-day loss since the height of the global financial crisis in 2007 as disillusioned investors dumped shares after Beijing held back expected policy support at the weekend following last week's 11 percent slide.

The latest tumble, which saw flagship indexes resolutely breaking key support levels, wiped out what was left of the market's stellar gains this year.

Also read: How major US stock market indexes fared on Wednesday

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