BEIJING — China's benchmark stock index tumbled 7.7 percent on Tuesday — the steepest decline in a year — underscoring a growing unease among investors about long-term prospects for economic stability.
The Shanghai Composite Index fell by 257 points in the first day of trading since the Chinese central bank said over the weekend that it would tighten credit outflows by raising reserve ratios on consumer banks by 1 percent this month to a record-high level. With the markets closed for the Chinese Dragon Boat Festival on Monday, Tuesday was also the first day of trading since the price of oil hit $140 a barrel, another likely factor in the sell-off, economists said.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)