Which 2015 event caused China’s Shanghai Composite Index to fall 8.49% in one day?

The 2015 event that caused China’s Shanghai Composite Index to fall 8.49% in one day was Black Monday on 24 August 2015.

The decline occurred during a period of severe turbulence in Chinese equity markets. Share prices had risen sharply earlier in 2015, encouraged by speculation, margin borrowing, and expectations about economic growth. As confidence weakened, forced selling and concerns about China’s economy intensified the fall.

The shock spread across global markets, with investors selling equities and other risky assets. It is called Black Monday because it occurred on a Monday, but it is unrelated to the 1987 crash that shares the same nickname. The episode also differed from China’s 2015 market peak and subsequent trading suspensions.