Right now the mentality is reduced-risk exposure across the board,” said Michael James, managing director of equity trading at Wedbush Securities.
“The fear is that things could worsen and I’d rather be selling now in advance of any potential weakening of indices.”
Chinese stock markets were in full disarray Thursday, halting trading within just 30 minutes of opening as prices slumped seven percent and triggered the “circuit breaker”.
Officials suspended the mechanism late Thursday, after judging it was doing more harm than good.
Chinese authorities lowered the yuan’s central rate against the US dollar by 0.51 percent to 6.5646, the lowest since March 2011.
http://news.yahoo.com/chinese-stock-markets-suspended-shares-fall-5-020004810.html?nf=1
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