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Shanghai Got Slammed Last Night

Joe WeisenthalDec 20, 2013, 14:57 IST

Most world markets are pretty flat today.

But Shanghai got slammed. It fell 2%.

Bloomberg

The big story there is rising interest rates and fears about a credit seize up.

Over the last year there have been a few waves of this story. China is on pace to end the year the red, which is pretty unusual for 2014.