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China Stocks Slump 7% on Weak Data Surveys Chinese stock markets tumbled - - 7 percent in their opening session of 2016 as weak factory activity surveys and falls in the - - yuan added to concerns about the struggling economy.Oil Reacts to Saudi-Iran Tensions U.S. crude prices pared - - initial gains in the - - first session of - - the new year as relations between major crude producers Saudi Arabia and Iran deteriorated.