China’s bear market sparks global selloff in stocks, crypto

6.8 Markets

Oct 22, 2026

China’s CSI 300 fell 20%, triggering a global selloff in stocks and cryptocurrencies. Bitcoin dropped below $82,000 as tech shares and commodities declined amid weak earnings and rising oil prices.

Asian stock markets tumbled as China’s CSI 300 index officially entered bear market territory, dropping 20% from its June peak after ten straight weeks of losses. Technology shares led the decline, with Hong Kong-listed Chinese tech stocks suffering their worst session since April 2025, losing over 40% from their highs and nearly erasing gains from Beijing’s September stimulus. Regional benchmarks in Japan, South Korea, Taiwan, and Hong Kong also fell sharply, declining between 2% and 3.5%. The rout in Chinese equities triggered risk aversion across global markets, weighing on commodities, currencies, and cryptocurrencies. Bitcoin retreated below $82,000 after failing to break above $85,000, sparking a broad selloff in digital assets and related stocks. The downturn was intensified by disappointing corporate earnings, rising oil prices, and escalating geopolitical tensions, prompting investors to seek safety in U.S. Treasuries. State-backed ETF inflows in China offered some support, but fading hopes for further stimulus and concerns over earnings quality kept markets under pressure.