This is the second time the chinese stock market has halted trading.

Chinese stocks plunged Monday, spurring a trading halt for the rest of the session, and other APAC stock markets after feeble manufacturing surveys revived concerns over the mainland’s economic slowdown.

The Shanghai Composite tumbled 6.85 percent to 3296.66 and the Shenzhen Composite plunged 8.1 percent.

The CSI 300 briefly plummeted 7.02 percent; when that index rises or falls 7 percent, a trading halt in China’s markets is triggered for the rest of the session.

Hong Kong’s Hang Seng was also down 2.48 percent at 21,370.62. Stocks in Australia, Japan, South Korea and India also fell. Energy plays, however, saw some gains after oil prices bounced during Asian trading hours.

7% down in Shanghai and 2% down in Hong Kong. Those are pretty massive adjustments. If China does indeed have sizable investment in Iran’s oil industry, the severing of Saudi diplomatic ties should be good news rather than bad.

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