China Punishes 200 for Stock Rumors

    An investor holds onto prayer beads as he watches a board showing stock prices at a brokerage office in Beijing, China, July 6, 2015. China's key stock indexes showed signs of stabilizing on Monday, rising close to 3 percent, in response to unprecedented rescue measures announced over the weekend.    REUTERS/Kim Kyung-Hoon - RTX1J6D1

    © Kim Kyung Hoon / Reuters

    As many as 197 Chinese have been punished in a new crackdown on online rumors, state media announced Monday. The rumors included commentary that a “man jumped to his death in Beijing due to the stock market slump,” and that “at least 1,300 people were killed in the Tianjin blasts.” Among those caught up in the crackdown is a financial journalist with Caijing magazine. Wang Xiaolu reportedly “confessed” to causing “panic and disorder” and creating “huge losses on the country.” The Shanghai Composite Index has plummeted 37 percent from its peak in June.

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