The Shanghai Composite fell 8.49% on August 24, 2015, during China’s stock-market turbulence.
The drop became known internationally as Black Monday because it was part of a sharp global sell-off. Concerns about China’s economic growth, falling commodity prices, currency pressure, and the sustainability of earlier share-price gains weighed on investors.
The Shanghai Composite had risen dramatically from mid-2014 into June 2015, helped by margin financing and strong retail participation. It then lost much of that advance over the following months.
The August 24 fall also affected markets in Europe and North America. The event is sometimes confused with China’s currency devaluation earlier that month, but the devaluation and the later equity-market plunge were separate developments.