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Shanghai shares plunge more than 7%
Shanghai shares accelerated their plunges of recent weeks on Friday, tumbling more than seven percent within an hour of the market opening.
The benchmark Shanghai Composite Index crashed 7.13 percent, or 278.96 points, to 3,633.81. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 6.96 percent, or 154.26 points, to 2,061.55.
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