Chinese shares slump -6.32% on monday

The benchmark Shanghai Composite Index dropped 116.27 points, or 6.32%, to close at 1,721.60. The Shenzhen Component Index slid 360.35 points, or 6.49%, to 5,721.69
Chinese shares slumped 6.32% on monday, as Asian markets sank on the likelihood that the global financial meltdown will morph into a deep economic downturn.