Chinese Selloff

Chinese shares have  fallen  9,00% in morning trade, extending  fears of a deep global market sell-off driven by broader  concerns around the Chinese economy
The market was in freefall from the open, crashing through  the 3500 point barrier - which the central government had  previously said would be the market's "bottom line" of support and erased all year-to-date gains. !!!
About two-thirds of the market -  hit the daily maximum 10 per cent fall allowed by the Chinese  stock exchange. 
Investors were spooked by the lack of signs of support  from the People's Bank of China over the weekend, and are  anxiously looking to what policymakers might do to stem the rout. Many investors had expected the central bank to inject greater liquidity into the market by cutting bank reserve  requirement ratios, but were left disappointed.
Shanghai Composite is currently 6,55% down.