Here’s What Happened to China Stocks This Week in 30 Seconds

It was a wild week of trading for China stocks – which sparked a spat of volatility in equities around the world. The carnage began on Monday, with the benchmark Shanghai Composite index falling 6.9 percent. The declines could have been even deeper, but circuit breakers kicked in to halt trading. The sell off was triggered by worries over China’s weakening manufacturing sector. Investors were also concerned about how markets would react to the expiration of China’s stock sale ban, which was set to occur Friday. Tuesday, conditions stabilized as Chinese officials injected about $20 billion into its markets. Wednesday saw a gain in the stock index of 2.25 percent – Chinese officials devalued its yuan currency against the dollar. But on Thursday, stocks sold off with circuit breakers kicking and closing the markets after just 30 minutes. China continued to devalue its yuan currency by the most since August of 2015. Finally, Friday – the circuit breakers were lifted prompting a slight rally in stocks. TheStreet’s Scott Gamm reports from Wall Street.