Fra Zerohedge:
China’s Shanghai Composite is down 22.8% from its late-January peak – officially entering its 4th bear market in 3 years – as Trade Wars (for now) are weighing heavier on China than US markets.
SHCOMP is down 45% from its highs in June 2015
Year-to-Date, the more tech heavy Shenzhen Composite is the worst performer…
And TATS (Tencent, Alibaba, Taiwan Semi, Samsung)are notably underperforming FANG (Facebook, Amazon, Netflix, Google) for now…
And while China has dramatically underperformed US markets this year, judging by the last two days, perhaps the global trade war contagion has finally washed ashore in America…
Meanwhile – USDJPY has erased all of its Navarro-bounce…
And offshore Yuan continues its tumble/devaluation…
‘Weaponized’ Yuan is now down over 5% from March highs…
