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Last Friday, a "flash crash" hit Chinese stocks trading on U.S. exchanges. China's $440 billion equivalent to Amazon.com Inc. (NASDAQ: AMZN), Alibaba Group Holding Ltd. (NYSE: BABA), dropped 7% in just four minutes.
Those stocks tried to recover early in the week but are now back at the levels hit last Friday.
On the surface, it looked like a small market "blip," or hiccup. But the truth is, this was nothing less than a ferocious salvo of fire in a war, just as surely as if it'd been two destroyers at sea blasting away at each other.
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Nationally recognized technical trader. Background in engineering, system designs, and risk reduction. 26 years in the markets.