Asia leading world markets lower

Asian stock markets dropped broadly on Monday, with Tokyo and Hong Kong down for the third-straight session. China's official news agency reported that the stock market regulator planned to control the fundraising pace of listed companies and to clamp down on market rumors. See Asian stock markets decline and Asia's IPO market cools.
China's Shanghai Composite is now down more than 55% from its peak in 2007. And so far, still dropping….

This is what risk looks like. I suspect North America has some catching up to do in the months ahead.

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