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Investors flee Chinese stocks as negativity engulfs market

Shanghai equities hit 4-year low while yuan sinks further

The Shanghai stock market has performed poorly since January, but the decline began to accelerate Oct. 8 as the gap between U.S. and Chinese interest rates narrowed.   © Reuters

SHANGHAI -- China's stock market extended the world's worst slide on Thursday, falling to the lowest in four years as the yuan neared its weakest point in a decade. With U.S. interest rates rising close to those in China, investors have begun to brace for a capital flight toward dollar-denominated assets.

The benchmark Shanghai Composite Index sank 2.9% to close at 2,486, a level last seen in November 2014.

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