Wall of worries sinks stocks

Lackluster economic data weigh on index, which drops below 2,000

Chinese equities sank below the psychologically important 2,000-point level on Monday as slowing economic growth further undercut a market already weakened by higher short-term interest rates, tight liquidity and concerns about the resumption of new offerings.

The benchmark Shanghai Composite Index declined 0.68 percent to 1,991.25 points, with transactions contracting to 48.3 billion yuan ($7.9 billion) from 57 billion yuan on Friday.