Good morning, and welcome to the Ides of January (is that a thing?):
Chinese stocks fell into a bear market for the second time in seven months, wiping out gains from an unprecedented state rescue campaign as investors lose confidence in government efforts to manage the country’s markets and economy.
The Shanghai Composite Index sank 3.5 percent to 2,900.97 at the close, falling 21 percent from its December high and sinking below its nadir during a $5 trillion rout in August
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