It was a brutal day on Wall Street
The Dow closed down more than 1,100 points, or 4.4%, the S&P 500 and Nasdaq were also both down more than 4%. The Dow is pacing for its worst week since the financial crisis.
But in China, per Bloomberg (porous paywall):
American stocks are having their worst run in years. An unlikely source of solace may be China, where prices staged a stirring rebound.
Markets there are way above the bottom of their virus-induced swoon, faring better than U.S. counterparts. Surprised? Chinese officials have for weeks been dispensing stimulus to shore up the world’s second-largest economy. Other countries are just now starting to face up to the fallout.
—Jeremy Goldkorn
