Which 2015 market turmoil began when China's Shanghai Composite fell sharply after its bubble?

The 2015 market turmoil began when China's Shanghai Composite fell sharply in the episode called 2015–2016 Chinese stock market turbulence.

Chinese mainland equities surged from mid-2014 into June 2015, helped by margin borrowing and a wave of retail speculation. The Shanghai Composite reached 5,178.19 on 12 June 2015. Regulators then tightened controls on leverage, and selling accelerated. By August, emergency measures included trading suspensions, restrictions on short selling, and support from state-linked funds.

A sharp devaluation of the renminbi in August 2015 added to global concerns about China's growth and policy direction. The Shanghai Composite experienced further turbulence into early 2016, when circuit breakers were briefly introduced and quickly abandoned after disruptive sessions.

This episode was not a currency crisis like 1997 Southeast Asia. It was primarily an equity-market and policy-confidence shock in mainland China, although its effects were felt through worldwide commodity, currency, and stock markets.