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The Chinese Correction was the global stock market plunge of February 27, 2007 which wiped out hundreds of billions of market value. After rumors that governmental Chinese economic authorities were going to raise interest rates in an attempt to curb inflation and that they planned to clamp down on speculative trading with borrowed money, the SSE Composite Index of the Shanghai Stock Exchange tumbled 9% from unexpected selloffs, the largest drop in 10 years. February 27 is the 58th day of the year in the Gregorian calendar. ... 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the CE era. ... The SSE composite is an index of all stock that trade on the Shanghai Stock Exchange. ... The Shanghai Stock Exchange is a stock exchange based in Shanghai, China. ...
The plunge in Asian markets sent ripples through the global market as the world reacted to the 9% meltdown in the Chinese stock market. The Chinese Correction triggered drops and major unease in nearly all financial markets around the world.
After the Chinese market drop, the Dow Jones Industrial Average in the United States dropped 416 points amid fears for growth prospects, the biggest one-day slide since the September 11, 2001 terrorist attacks. Sell orders were made so fast that a second analysis computer had to be used, causing an instantaneous 200-point drop at one point (Reuters). Linear graph of the DJIA from 1901 until today Logarithmic graph of the DJIA from 1901 until today The Dow Jones Industrial Average (NYSE: DJI, also called the DJIA, Dow 30, or informally the Dow industrials, the Dow Jones or The Dow) is one of several stock market indices created... A sequential look at United Flight 175 crashing into the south tower of the World Trade Center The September 11, 2001 attacks (often referred to as 9/11—pronounced nine eleven or nine one one) consisted of a series of coordinated terrorist[1] suicide attacks upon the United States, predominantly...
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