The Chinese stock market entered a bearish phase after falling more than 20% in four months, the CSI 300 index, which aggregates shares of China's 300 largest companies, lost more than a fifth of its value. Today the decline continued. The technology companies bore the brunt. The Star 50 index of technology companies has lost about 40% from its summer peak, according to Reuters data. Weak domestic demand and concerns about the profitability of Chinese businesses are also weighing on the market.

The Chinese stock market entered a bearish phase after falling more than 20% in four months, the CSI 300 index, which aggregates shares of China's 300 largest companies, lost more than a fifth of its value. Today the decline continued. The technology companies bore the brunt. The Star 50 index of technology companies has lost about 40% from its summer peak, according to Reuters data. Weak domestic demand and concerns about the profitability of Chinese businesses are also weighing on the market.