As US Soars, Chinese Stocks Crash 13% - Worst Week Since Lehman

Tyler Durden's picture


As the carnage began last night in China we noted the extreme levels of volatility the major indices had experienced in recent weeks. By the close, things were ugly with the broad Shanghai Composite down a stunning 13.3% on the week - the most since Lehman in 2008 (with Shenzhen slightly better at down 12.8% and CHINEXT down a record-breaking 14.99%).

Over 1000 Chinese Stocks were limit-down last night!

Chinese stocks have gone nowhere in a month

The current crop of farmer/housewife-turned-trader has never experienced anything like this and so Monday's (Sunday night) open will be fascinating especially if Greek events are roiling.


Of course, a glance at record highs in US equities confirms there is nothing to fear but ignorance itself.

*  *  *

To put this in context, Chinese stocks lost almost $1 trillion in market cap last week - 10% of its GDP!

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Fri, 06/19/2015 - 10:27 | 6213795 Headbanger
Headbanger's picture


We're gonna see a LOT more "since Lehmans" very soon.

Fri, 06/19/2015 - 10:29 | 6213811 ThaBigPerm
ThaBigPerm's picture

Well that's the quickest escalation on some folks since Lehman

Fri, 06/19/2015 - 10:33 | 6213827 MonetaryApostate
MonetaryApostate's picture

The Casino is alive & open for business, place your bets folks, place your bets!!!

Step right up, don't be shy, you can't win if you don't play!!  (You can't lose if you don't play either. :)

Fri, 06/19/2015 - 11:35 | 6214064 angel_of_joy
angel_of_joy's picture

Calm down, it's just BTFD on a larger scale. Or maybe you thought that the Westerners have a monopoly over the algos...?

Fri, 06/19/2015 - 11:37 | 6214075 KnuckleDragger-X
KnuckleDragger-X's picture

They just need HFT's and the advice of Saint Krugman and put GS on retainer......

Fri, 06/19/2015 - 11:46 | 6214099 Roevskalle
Roevskalle's picture

The personal economy is however linked to the nationwise economy through taxes and charges. The state may also be in debt to you regarding future pensions. And each one may also hold a not so insignificant amount in private pension funds etc.

The fact that everyone lose out because of the casino is given, regardless if they actually play the casino or not. 

But you can somehow influence if your are just going to be screwed, or if you are going to be totally arseraped. 

Fri, 06/19/2015 - 10:33 | 6213829 Creepy A. Cracker
Creepy A. Cracker's picture

Thank God "since Lehman" made it back in to a story.  I was begining to have "since Lehman" withdrawal symptoms.

Fri, 06/19/2015 - 11:01 | 6213933 Taffy Lewis
Taffy Lewis's picture

Last weekend I had my worst hangover since Lehman.

Fri, 06/19/2015 - 11:29 | 6214035 yrad
yrad's picture

"Hangovers are God's way of telling you "You had a kick ass time""

Fri, 06/19/2015 - 13:14 | 6214391 Son of Loki
Son of Loki's picture

This morning I saw the hottest girl ... since Lehman.

Fri, 06/19/2015 - 11:02 | 6213937 Headbanger
Headbanger's picture

I know...

I was drinking way too much..

See?  I'm not the only one besides Taffy..

Fri, 06/19/2015 - 10:33 | 6213830 bania
bania's picture

Wi Tu Lo

Fri, 06/19/2015 - 11:25 | 6214021 Redneck Hippy
Redneck Hippy's picture

Down $1 trillion.  About the amount that was spent on IPOs last week in China.  Coincidence or causation?

You decide which is right, and which is an illusion.

Fri, 06/19/2015 - 10:59 | 6213927 Jumbotron
Jumbotron's picture

The new drinking game "SINCE LEHMAN"


When you read SINCE LEHMAN on ZeroHedge in the coming days and weeks knock back your choice of an adult beverage.  But have Uber on retainer....because you won't be driving for quite some time.



Fri, 06/19/2015 - 11:32 | 6214048 williambanzai7
williambanzai7's picture

Fri, 06/19/2015 - 12:38 | 6214272 OrangeJews
OrangeJews's picture

So... the most "since Lehmans" since Lehman?

Fri, 06/19/2015 - 10:26 | 6213796 Serfs Up
Serfs Up's picture

I am so jealous of countries with non-manipulated markets...

Fri, 06/19/2015 - 11:33 | 6214055 Redneck Hippy
Redneck Hippy's picture

The Chinese market is the most manipulated ever.  The whole thing is dependant upon cheer leading by the government, while they sell off money-losing, debt encrusted  state owned enterprises off to clueless peasants, who think that because the market has the state's blessing, it will automatically go up.   This is the most cynical  manipulation of financial markets in history.

The oligarchs will spend their ill-gotten gains on escape mansions in Vancouver or San Francisco or London, and bide their time till the guillotines come out.

Which won't be long now.

Fri, 06/19/2015 - 10:27 | 6213800 FranSix
FranSix's picture

Worst Lehman since a week. Who'd a thunk it?

Fri, 06/19/2015 - 10:27 | 6213801 The Merovingian
The Merovingian's picture

You reap what you sow ...

Fri, 06/19/2015 - 11:00 | 6213928 Headbanger
Headbanger's picture

Since Lehman..

Fri, 06/19/2015 - 10:30 | 6213812 Bill of Rights
Bill of Rights's picture

Piece of shit who aided and abetted many of today's problems get a cushy job, where? at a bank of course.

Barney Frank is joining a bank board

Fri, 06/19/2015 - 10:35 | 6213839 Rainman
Rainman's picture

Eric Holder is working at JPM for a $77 million 'salary'.

This is why they are rightly called kleptocrats.

Fri, 06/19/2015 - 10:41 | 6213867 headhunt
headhunt's picture

That POS was the corner stone to the last financial collapse.

Will he be sitting or under the boardroom table?

Fri, 06/19/2015 - 10:29 | 6213817 Jacksons Ghost
Jacksons Ghost's picture

Chinese Central Banks need to step up their support of the Pvt Markets. Come on China! Don't you understand free markets? Alt-p!

Fri, 06/19/2015 - 10:30 | 6213819 behind the curtain
behind the curtain's picture

All the housewives went short last week .. so they are even richer now .. ;)

Fri, 06/19/2015 - 10:30 | 6213821 lolmao500
lolmao500's picture

BTW, the senate has passed a defense bill giving $300 millions in arms to Ukraine, including anti-tank weapons and radars. With let's say 200 million in anti-tank weapons, they can get about 125 launchers and 1000 missiles.

Putin won't like that at all.

Fri, 06/19/2015 - 11:27 | 6214029 JimmyRainbow
JimmyRainbow's picture

10 % will disappear just right after arrival. 45% to the "east-party" in that war and 45% for the "west-party"

after 6 weeks 100% will be used against each other or be "evaporated" to ISIS or chechnya or russia for "studies"

Fri, 06/19/2015 - 12:01 | 6214153 lakecity55
lakecity55's picture

"Bath House we are all moving our assets East. You MUST start a war in which the decepit US Military is wiped out."
"George, look, I've been busy with the Race War."
"I don't care, Bath House. Get with it! You can be replaced, my friend."

Fri, 06/19/2015 - 10:34 | 6213834 CHC
CHC's picture

"Since Lehman..." - Bring it on bitchez!!

Fri, 06/19/2015 - 10:37 | 6213849 ebworthen
ebworthen's picture

There's going to be some angry Women in China this weekend.

Fri, 06/19/2015 - 11:12 | 6213974 sodbuster
sodbuster's picture

There's a lot of dudes in China, that are not "gonna get lucky" this weekend!!

Fri, 06/19/2015 - 10:37 | 6213851 Dr. Engali
Dr. Engali's picture

Tis but a scratch....

Fri, 06/19/2015 - 11:20 | 6213999 JimmyRainbow
JimmyRainbow's picture

tulip revolution preparing to eat its children

Fri, 06/19/2015 - 12:01 | 6214146 Comte d'herblay
Comte d'herblay's picture

Damned meds, giving double vision.

Fri, 06/19/2015 - 12:00 | 6214147 Comte d'herblay
Comte d'herblay's picture

I'm confused. BABA had a 57 P/E and it's ten per cent off its high while Amazon has a negative P/E and is ten per cent off its highs.

At least BABA HAS a P/E and its market cap is higher than AMZN, but one would think that with a negait.........oh......nevermind.

Fri, 06/19/2015 - 19:13 | 6215783 Dindu Nuffins
Dindu Nuffins's picture

P/E... higher is not better

Fri, 06/19/2015 - 22:43 | 6216392 GotGalt
GotGalt's picture

A P/E of 1,000,000,000 is better than a negative P/E.  That is/was the point in comparing the two.  Of course, Amazon is just around the corner of controlling the entire market and then being able to jack up margins to start making a zillion/share.

Sat, 06/20/2015 - 13:28 | 6217530 Nick Jihad
Nick Jihad's picture

I usually find I can get better price on eBay than Amazon. If Amazon raises their margins, they'll lose volume to eBay.

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