China Suspends Circuit-Breaker Rule – “This Is Insane; We Were Forced To Liquidate All Our Holdings This Morning”

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Update: China folds – CHINA SUSPENDS STOCK CIRCUIT BREAKER RULE
China Securities Regulatory Commission Suspends Stock Circuit Breaker Rule, CSRC Says on Weibo
According to the Shenzhen Stock Exchange messages, to safeguard the smooth operation of the market, approved by the China Securities Regulatory Commission and Shenzhen Stock Exchange decided to suspend the implementation of the “Shenzhen Stock Exchange rules” provisions of Chapter VI of the “index since January 8, 2016 fuse “mechanism. In addition, according to gold in the news, to maintain the smooth operation of the market, approved by the China Securities Regulatory Commission, China Financial Futures Exchange decided since January 8, 2016, to suspend the implementation of the CSI 300, SSE 50, the CSI 500 stock index futures fuse system.
In Q&A, CSRC insists circuit breakers didn’t cause the China meltdown but admits they may have aggravated sell-off.
This is a result of the unprecedented local outcry detailed earlier.

This post was published at Zero Hedge on 01/07/2016.