Chinese mainland stocks have lost approximately $2.4 trillion in market value since May as the artificial intelligence bubble unwinds. Shanghai’s STAR 50 fell 40% in less than four months, erasing nearly $480 billion, while the CSI 300 entered a bear market on October 22. According to Goldman Sachs, AI-related companies account for 42% of Chinese equity market capitalization and 57% of trading volumes. Unitree has lost nearly half its value since its August listing, optical-module suppliers have fallen by about 60%, and AI tokens are down 41% since March. Bitcoin briefly slipped below $80,000 before rebounding to $80,900 on Wednesday and showing greater resilience than in previous crashes, ahead of the Federal Reserve’s decision.
Source: Read the original article
