China halts IPOs as AI stock rout erases $480 billion
China has reportedly paused approvals of new share listings after AI and chip stocks fell sharply, wiping about $480 billion from the STAR 50 index, which is down roughly 40% since July. The CSI 300 is also down about 20% from its June high. The story is about traditional equity markets, with only an indirect link to crypto through possible spillover risk to U.S. tech stocks.
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