Market Currents
An under-reported story has been the Shanghai Composite, which hit a three-year low today and...
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Monday, August 20, 2012, 5:26 PM ETAn under-reported story has been the Shanghai Composite, which hit a three-year low today and whose divergence with the S&P 500 has reached "stunning" proportions. Hopes turn to government stimulus as evidence of decelerating growth has mounted, but this weekend's report of rising property prices gives Chinese policymakers less flexibility to ease.
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Indeed, it feels like 2007, when everyone's head was buried in the sand sucking on the Bernake "it's all contained..." cool-aid... until it wasn't.