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Mon June 24, 2013
Chinese Stocks Suffer Big Losses
Originally published on Mon June 24, 2013 11:54 am
DAVID GREENE, HOST:
NPR's business news begins with another bad day for Chinese stocks.
(SOUNDBITE OF MUSIC)
GREENE: The major indexes in China closed down more than five percent - making it the worst day of losses since 2009. And the plunge reverberated, weighing down markets across Asia. The losses we apparently caused by the Chinese government's ongoing attempt to reform its banking system. It's using high interest rates to cut down on risky loans, making access to cash very tight. Transcript provided by NPR, Copyright NPR.