Shanghai stocks plunge 4.39% at the open

Shanghai stocks opened down 4.39 percent Wednesday on deepening gloom over the Chinese economy which slammed global markets overnight, dealers said. China's benchmark Shanghai Composite Index slumped 138.94 points to 3,027.68. The Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 4.66 percent, or 79.60 points, to 1,628.18.