SHANGHAI—It’s barely six months into a broadening Sino–U.S. trade war, and the fallout has already driven China’s stock markets into the same league as debilitated emerging markets such as Turkey, Argentina, and Venezuela.
With a roughly 20 percent loss so far this year, Shanghai’s stock market has joined the Shenzhen exchange as among the world’s worst performers. In stark contrast, the technology-heavy U.S. Nasdaq Composite Index is one of the world’s biggest gainers, up about 15 percent.
