Markets Are Falling, Interest Rates Are Spiking Again, And China Got DESTROYED

china shanghai stock exchangePeople look at an electronic board at a Shanghai brokerage house.

A few weeks ago all the talk was about Japan.

Now the focus turns to China.

Last week we saw a surge in short-term interbank lending rates spark fears of a credit crisis.

Today: market crash.

The Shanghai Composite fell 5.3%, as the saddest index in the world continues to plummet.

Elsewhere in Asia, the Nikkei, which had opened up 1.4%, ended down 1.36%.

Meanwhile in Europe, Italy is down 0.7%. US futures are red.

Also, interest rates on the US 10-year are up to 2.59%.

That at the Chinese decline will be today’s big story.

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