Chinese stocks destroy $39.8B in U.S. wealth

[hubag bohol]

Matt Krantz, USA TODAY 4:14 p.m. EDT July 27, 2015


The Chinese stock implosion is starting to get serious. It's costing U.S. investors real money.

The 144 China-based stocks with primary listings on major U.S. exchanges have erased nearly $40 billion in paper wealth since the Shanghai Composite index peaked on June 12. It's an enormous destruction of wealth that in effects wipes out the market value of a company the size of cruise ship operator Carnival.

The Shanghai composite index' losses are only getting worse. The much-watched measure of Chinese stocks fell 8.5% in overnight trading Monday. The index has dropped more than 27% since hitting its peak this year back on June 12.


More at: http://www.usatoday.com/story/money/markets/2015/07/27/chinese-stocks-us-wealth/30738321/