2011-08-08 15:57

BEIJING -- China's stocks tumbled Monday after rating agency Standard & Poor's lowered the US debt rating to AA+ with a negative outlook.

The benchmark Shanghai Composite Index slumped 3.79 percent to close at 2,526.82. The Shenzhen Component Index lost 3.33 percent to finish at 11,312.63.

The Shanghai listed stocks opened 1.03 percent lower on Monday morning and hit a year low of 2,497.92 during the morning trade.