I am REALLY surprised...Oooppsss... China's stocks tumbled the most in three months after the government tripled the tax on securities transactions to cool a rally that's drawing more than 300,000 new investors a day. The CSI 300 Index fell 288.54, or 6.9 percent, to 3879.75 as of 1:13 p.m. in Shanghai. About 50 of the benchmark's 300 members plunged by the 10 percent daily limit.
Since everyone kept warning people of this ... and it's already happened once ... traders have become immune to this change ...
Seriously. I think whoever wants to unwind some positions today does so in manic fashion and the market climbs again...it's really rinse, wash, repeat. Hedge yourself for this shit and hold on to the side railing.