Tech Wreck Goes Global – Chinese Stocks Slump Most Since 2016

As we have noted numerous times, “as goes China’s credit impulse, so goes the world,” which means there’s trouble ahead as the impulse has rolled over…

Source: Bloomberg

And that roll-over has coincided with the ‘apparent’ death of growth stocks and while most eyes are on US big-tech, Chinese tech stocks crashed overnight, with tech-heavy ChiNext down over 5%…

Source: Bloomberg

The tech-heavy index is down almost 15% in the last 10 days, its fastest drop since 2016…

Source: Bloomberg

And the tech wreck is starting to leak over into other Chinese companies as the large cap CSI 300 is also tumbling…

Source: Bloomberg

Can Jay Powell save the world with his words today?