Unintended Consequences From China’s Stock Market Intervention
Even with trading halted on over a thousand stocks and strenuous government efforts to provide a floor, the Shanghai Composite is down another 5.9% today, but that’s partially because individual stocks are capped at a daily loss of 10% and about 40% of the market has been frozen completely. Even after extraordinary policy intervention, we’re seeing just how difficult it is for a government to actually control the market.
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