China stocks plunge sparks sell-off

HONG KONG: A plunge in Chinese stocks dragged Asian markets down Friday after authorities launched a probe into several brokerages and profits at the country’s industrial giants sank far more than expected.

With Shanghai slumping more than six percent at one point, the sharp losses brought back painful memories of the panic-driven sell-off that struck China’s equities markets in the summer, wiping trillions of dollars off valuations.