China's Stocks Fall to 2009 Low on Concern About Economy, Profit

China's stocks fell, with the Shanghai Composite Index briefly sliding below the 2,000 level for the first time in three years, on concern the deepening economic slowdown is hurting corporate profits.

The Shanghai Composite dropped 1.2 percent to 2,004.17 at the close, after slumping to as low as 1,999.48 in the last five minutes of trading. The benchmark gauge has lost 9.9 percent this quarter, the most in a year, and is the worst performer among global markets after Cyprus. The CSI 300 Index slipped 1.1 percent to 2,184.89, led by metal producers.