CHINA STOCKS HALTED FOR REST OF DAY AFTER CSI 300 TUMBLES 7% – Following the collapse of offshore Yuan to 5 year lows and decompression to record spreads to onshore Yuan, The PBOC has stepped in and dramatically devalued the Yuan fix by 0.5% to 6.5646. This is the biggest devaluation since the August collapse. Offshore Yuan trading has been violent with a 1000 pips swing on Yuantervention. Dow futures are plunging… WTI trades at a $32 handle… Gold hits $1100.
The entire Chinese stock market has been halted on half the trading days in 2016
The punishment will continue until The Fed unleashes QE4!!