China just had a 'Black Monday'

Stocks plummeted across China on Monday, with 500 stocks hitting their 10% daily limit and 1,200 falling 7%, according to the South China Morning Post. They're calling it another 'Black Monday'
Analysts are blaming the panic on news out of a government conference on the financial system held over the weekend. At the National Financial Work Conference, chaired by President Xi Jinping, officials decided to create a special committee to oversee the regulation and deleveraging of China's f