China’s STAR 50 Index Plunges 42%, Erasing $480 Billion in Market Value

China’s STAR 50 technology index has reportedly fallen 42% since reaching its all-time high in June.
The sell-off has extended for 10 consecutive weeks, marking the index’s longest and steepest weekly losing streak on record.
Key figures:
🔹 Index decline: 42% from its June peak
🔹 Losing streak: 10 consecutive weeks
🔹 Market capitalization erased: More than $480 billion
The prolonged decline highlights mounting pressure on China’s technology stocks and reflects a sharp reversal in market sentiment since the index reached its record high.