YINN - Stock Markets In China And Hong Kong Dive Yuan Slides Crude Oil Drops On Confidence Crisis In China
- The Shanghai Composite Index plunged 5.1% to 2,928, the biggest one-day drop since February 2020, during the Wuhan crisis.
- Investors were already worried about slowing consumer demand in China amid the resurgence of Covid and the resurgence of the lockdowns.
- Construction has been one of the primary drivers of economic growth in China, and the slow-motion collapse of the property-development sector is hitting the overall economy hard.
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Stock Markets In China And Hong Kong Dive, Yuan Slides, Crude Oil Drops On Confidence Crisis In China