Babli.eth

🚨HUGE: $237 BILLION wiped out from Chinese stocks in just 15 minutes after the market opened. The Chinese stock market has faced a historic losing streak marked by 12 consecutive red weeks (its longest weekly losing streak in history), driven by an ongoing AI and tech sell-off rather than a single isolated daily crash. Chinese stock markets have lost an estimated $2.4 trillion to $3.5 trillion in value since their peak in May/June 2026. The technology-heavy Shanghai STAR 50 Index plunged about 40%, vaporizing nearly $480 billion in market value. The historic tech sell-off in October 2026 targeted four specific sub-sectors within the Chinese technology ecosystem. Because AI-related names accounted for roughly 42% of China's entire stock market capitalization and 57% of daily trading turnover, corrections in these heavily concentrated trades severely impacted the broader market. High-profile AI star startups like MiniMax and Zhipu suffered catastrophic deep corrections, with private/secondary valuations reportedly cratering by up to 85%. Major domestic chip manufacturers like ChangXin Memory Technologies (CXMT) dropped by more than 25% in a month. High-flying GPU market debuts like MetaX Integrated Circuits and Moore Threads Technology each lost roughly 50% of their peak summer value. Heavyweight optical component suppliers like Zhongji Innolight and Eoptolink Technology plummeted roughly 60% from their previous seasonal highs. High-profile humanoid robotics manufacturer Unitree Robotics, which drew retail demand thousands of times its listing allocation just a few months prior, saw its market value slashed by half. #StockMarket #Crash #stockmarketnews