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Shanghai stocks close down 7.63%, sinking below 3,000 points
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SHANGHAI stocks closed down 7.63 percent on Tuesday, as concerns about China's weak economy pressured shares the day after their worst daily fall since 2007 sparked panic selling around the world.
China's benchmark Shanghai Composite Index dropped 244.94 points, to 2,964.97 on turnover of 358.7 billion yuan (US$56.1 billion). It fell as much as 8.16 percent during the day.
The Shenzhen Composite Index, which tracks stocks on China's second exchange, slumped 7.09 percent, or 133.39 points, to 1,749.07 on turnover of 288.0 billion yuan.
The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, fell 7.52 percent to close at 1,990.71.
Japan's Nikkei 225 Index dived 3.96 percent to close at 17,806.7 on Tuesday.
Overnight, The Dow Jones Industrial Average tumbled 3.58 percent to 15,871.28. The S&P 500 lost 3.94 percent and The Nasdaq Composite Index sank 3.82 percent.
European equities also dived on Monday following the previous session's steep decline, as the Stoxx Europe 600 was down over 6 percent and Germany's DAX fell 4 percent.
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