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Kubang:

Dow never went down 1,050 at the opening in that crisis rao garu, may be I forgot now.

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quote:

3) The root cause of all the turmoil: Over the past year, investors poured more and more into Chinese stocks, even though economic growth and company profits were weak.
4) Retail investors -- think mom and pop, average folks -- were the most enthusiastic. A classic bubble developed.
5) The bubble popped on June 12, and the Shanghai index lost about a third of its value before rebounding. Losses were even more dramatic on the the smaller Shenzhen Composite.
6) China moved aggressively to control the crisis. The government gave money to brokerages to buy stocks -- and ordered company executives not to sell their shares. New company listings were suspended. The central bank cut interest rates to a record low.

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