China education crackdown rocks investors: 'Everybody's in the crosshairs'

With losses in Chinese tech and education stocks now exceeding $1 trillion since February, the questions reverberating across trading desks from Shanghai to New York

Beijing’s clampdown on the booming private education industry has shocked even some of the most seasoned China watchers, prompting a rethink of how far Xi Jinping’s Communist Party is willing to go as it tightens its grip on the world’s second-largest economy.
 

The crash in tutoring stocks that began late last week spread Monday across the tech sector and beyond, after authorities confirmed reports they would ban a swathe of education industry from making profits. It’s the government’s most extreme step yet to rein in private businesses that regulators blame for exacerbating inequality, increasing financial risk and -- in the