China Stock Carnage Day II

china dive

Photo: Singapore 2010 Youth Olympic Games

Chinese stocks are way down today, building on fears that a hard landing is ahead.This poses a major concern for hedge funds which made sizable investments in Chinese companies.

Further signs that people are ultra-nervous: Chinese sovereign CDS have hit their highest level in 2 years.

As for some big US names:

BIDU: -7.50%

SINA: -4.15%

SOHU: -7.15%

YOKU: -5.30%

CEO: -3.47%


PTR: -0.63%

Also suffering are stocks with close ties to China. Wynn Resorts Ltd., which has major properties in Macau, is down a full 9.37%.

DON’T MISS: Why everyone’s freaking out about China right now >

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