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China's Stock Markets Close for Day After Sharp Fall

Chinese stocks plummeted nearly seven percent Monday - the first day of trading for the new year - prompting a halt to trading for the day on the Shanghai and Shenzhen exchanges. Poor manufacturing data in the world's second-largest economy is mainly being blamed for the sharp selloff, along with rising tensions in the Middle East. Japan's Nikkei index and Hong Kong's Hang Seng were also down about 3 percent in Monday trading.

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