SEOUL, South Korea—The Shanghai share index fell the most since early 2007 on Monday as Chinese stocks suffered a renewed sell-off despite government efforts to calm the market.
The Shanghai Composite Index closed down 8.5 percent at 3,725.56 with most of the plunge occurring in the last hour of trading. Other stock benchmarks around the world were dragged down, too.
In Europe, jitters over delays to Greece’s bailout discussions weighed on markets, too. Germany’s DAX was down 2.1 percent at 11,112 while the CAC-40 in France fell the same rate to 4,950. The FTSE 100 index of leading British shares was 0.7 percent lower at 6,536.
But the main focus in markets was the precipitous fall on the Shanghai market, which was the biggest one-day decline in Chinese stocks since an 8.8 percent plunge on Feb. 27, 2007, according to financial data provider FactSet.
