Here is a picture i found on Calculated Risk. China's index has been falling and doesn't show any sign of stopping. People who must have invested near the peak, and especially those who did not respect their stop losses must have seen half of their investment just vanish. For me, this is an eyeopener experience.
You can look at latest data on chinese stock market exchange on Shanghai Stock Exchange
Meanwhile, for those of you interested in economic developments in the US, calculated risk is an excellent blog, very frequently updated, and maintained by two experienced finance professionals. Definitely worth having a look.