Stock market (Hang Seng) in China is down -1,097.64 (4.39%)

[CountAllVotes]

Is this just a "correction" or is it the beginning of a worldwide recession?

If it is, whose fault is it exactly? The banksters, the problems in the EU or the world as a whole?

In any event, whatever the cause, yikes!!

[The Velveteen Ocelot]

1. It's mostly the Greece thing, I think.

And it's probably just a correction.

[CountAllVotes]

2. "panic sentiment"

SHANGHAI (Reuters) - Chinese stocks dived on Wednesday after the securities regulator said the tumbling stock market in the world's second-biggest economy was in the grip of "panic sentiment" as investors ignored a battery of support measures from Beijing.

Amid signs of the market freezing up as companies scrambled to have trading in their shares suspended, the People's Bank of China said it was watching closely and would guard against systemic regional financial risks.

The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 5 percent in early trade, while the Shanghai Composite Index was down 4.3 percent. Both indexes had plunged around 8 percent at the market open.

Around 30 percent has been knocked off the value of Chinese shares since mid-June, and for some global investors the fear that China's market turmoil will destabilize the real economy is now looming as a bigger risk than the euro zone crisis.

http://finance.yahoo.com/news/china-stocks-nosedive-despite-fresh-022752194.html

I suppose we can hope it is just a little correction ...

[Spider Jerusalem]

3. Nothing to do with Greece

Chinese government relaxed rules on margin trading which led to a lot more of it; they've recently tightened the rules again. http://www.vox.com/2015/7/7/8910293/china-stock-market-crash

[The Velveteen Ocelot]

4. OK, thanks for the info. Wasn't following this.

[LittleBlue]

5. China's markets have gone way up since late last year

Maybe a correction rather than a calamity
https://www.google.com/finance/getchart?q=000001&x=SHA&p=1Y&i=86400&ei=Z6ecVcGpB8aQigL854iwBQ

[herding cats]

6. This isn't a Greece thing.

This is their own thing. It's been going on since the beginning of June. Long before that actually, if we're being honest. It's the financial story the media is largely avoiding.

[CK_John]

7. This could be the beginning of the 2nd Cultural Revolution.

The under 30 have seen the rest of the world and the old guard are not ready to cut the cord while the military see a chance to be a world power and put everyone into the Red Army like it or not.

Living in interesting time.

IMO....

[CountAllVotes]

8. It is the beginning of something ...

Hang Seng now at -1,512.14(6.05%)

[CBGLuthier]

10. I heard earlier they were letting local companies suspend trading

Making it impossible to sell or buy their stocks. It started last weekend and whatever emergency measures they took do not seem to have helped.