China’s stock market experienced its biggest single-day loss in eight years before North American trading began today. The Shanghai Composite Index fell about 8.5 percent to 3,209.91 points, eliminating all its gains this year and causing China’s state news agency to dub the plunge “Black Monday.” The Toronto Stock Exchange plunged in early trading, part of the global downturn affecting markets around the world. The market’s benchmark S&P/TSX index was down about 355.9 points at 13,117.760 about an hour after the open, representing a drop of 2.6 per cent from Friday’s close.
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