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China Stocks Plunge 6% on Fears of Liquidity, Profit Taking

Chinese stocks selloff in the worst day for that market in over a month.
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Chinese stocks selloff in the worst day for that market in over a month. The Shanghai Index lost 6% on fears about the economy, profit taking and worries about liquidity. The selloff happens on the eve of the G20 Summit taking place in China. Apple (AAPL) is said to be working on an iPhone that even it won't be able to hack. Apple engineers have already begun developing new security measures that would make it impossible for the government to break into a locked iPhone. If Apple succeeds, the company would create a significant technical challenge for law enforcement agencies. Restoration Hardware (RH) shares plunge on financial results that were well short of expectations. The CEO blamed everything from the oil bust to the volatile stock market. January Durable Goods orders are due today. The House Financial Services Committee meets on Puerto Rican debt. San Francisco Federal Reserve President John Williams speaks on the economy later today.

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