Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

China’s trading day lasted only 14 minutes

Kai Ryssdal, Rob Schmitz, and Mukta Mohan Jan 7, 2016
HTML EMBED:
COPY

China’s trading day lasted only 14 minutes

Kai Ryssdal, Rob Schmitz, and Mukta Mohan Jan 7, 2016
HTML EMBED:
COPY

Total elapsed time for the trading session in Shanghai this Thursday? 14 minutes.

That’s how long it took for traders to decide they didn’t like what the Bank of China was doing with the Yuan — pushing the value down in order to boost the slowing Chinese economy. Circuit breakers were tripped, and by 10am in Shanghai, the main stock index there was off 7 percent. Trading had been called for the day. Marketplace’s China Correspondent Rob Schmitz gives us some important context on what went on.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.