The rest of the more highly sensitive and manic Chinese equity markets are also plunging with CHINEXT and CSI-300 down over 7% in the last month (and 17% from the highs in the case of the former).

Of course - as US equities roared to record highs today in the face of the most serious Grexit fears yet and a Fed that just admitted the economy is FUBAR - Chinese stocks are for once derisking responsibly (for now).

But there are more troubles in big China as Reuters reports China steel exporters are dumping inventories at a a loss...