In a sharp downturn, China's stock market came crashing down on Wednesday, highlighting the unfulfilled promises of stimulus and casting shadows over China-exposed assets across Europe. The Shanghai Composite nosedived over 5%, marking its most considerable slump since the pandemic-induced fall of February 2020. Metal commodities and crucial currencies like the Australian dollar also saw declines.
Amid this turbulence, European miners and luxury stocks experienced a downward drag, requiring a significant financial push from Chinese authorities to stabilize investor confidence and rally the markets. (With inputs from agencies.).
