Shanghai Stock Exchange Plunges to 3,814 Amid Oil Price Surge
The Shanghai Stock Exchange (SSE) Composite Index plummeted to 3,814 points on Friday, July 24, 2026, as a surge in global crude oil prices above $100 per barrel rattled Chinese equities.
The index declined by around 1.6% from Thursday's close of 3,876.78, with turnover on the Shanghai Stock Exchange reaching approximately 915.4 billion yuan.
The sharp escalation in global crude oil prices, driven by intensified Houthi attacks on vessels transiting the Red Sea and concerns over a potential disruption to two major crude oil shipping corridors, had direct implications for China's energy costs and input costs across manufacturing and transportation sectors.
Mainland Chinese equities were also pressured by a technology-led selloff on Wall Street overnight and rising US Treasury yields, which reinforced a broader risk-off tone that spilled into Asian trading hours on Friday.