The Shanghai Composite fell 8.49 percent on August 24, 2015, during the Chinese stock-market crash.
The day became known internationally as Black Monday because it followed a steep sell-off in Chinese shares and coincided with sharp declines in markets around the world. The Shanghai Composite’s fall reflected investor concern about slowing Chinese economic growth, weakening industrial data, currency policy, and the sustainability of the earlier equity boom.
Chinese authorities had already taken extraordinary steps to support the market, including interest-rate cuts, restrictions on some share sales, and actions involving state-linked funds. These measures did not immediately restore confidence, and volatility continued into 2016.
The 8.49 percent figure refers specifically to the Shanghai Composite’s one-day closing decline on August 24. It should not be confused with the index’s much larger cumulative fall from its June 2015 peak or with percentage losses in other Chinese indexes.