Chinese stock markets halted after tumbling 7% in 1st 2016 session, dragging Europe down

‘Trading was suspended on Chinese markets after stocks tumbled 7 percent in the first trading of the year, triggering the new “circuit breaker” system limiting volatility, which was introduced in December. The fall from Asia led to a slump in European stocks as well.

The 15-minute suspension happened about 90 minutes before market’s regular closure and followed a brief 15-minute halt early in the afternoon, when the main indexes had shed 5 percent.

The blue-chip CSI300 index ended down 7 percent by the time the trading was stopped early, while the Shanghai Composite Index lost 6.9 percent. The technology-driven Shenzhen Composite was the worst performer, falling by more than 8 percent.’

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