China's STAR 50 Tech Index Down 42% From June Peak After Record 10-Week Slide

China's STAR 50 index just posted the kind of losing streak markets write history books about. The Shanghai tech benchmark has now fallen 42% from its all-time high set back in June, according to WatcherGuru.

The decline isn't a one-week stumble. The index has closed lower for 10 straight weeks, the longest and worst weekly losing run in its history, per the same report.

The damage is measured in the hundreds of billions. More than $480 billion in market capitalization has been wiped out over that stretch — a staggering amount of value gone in roughly two and a half months.

The STAR 50, which tracks the biggest tech names on Shanghai's STAR Market, had been one of the standout performers of the year before peaking in June. Now it's giving all of that back, and then some.

Ten consecutive down weeks is the kind of statistic that gets traders' attention fast, since it suggests sustained selling pressure rather than a quick panic. There's no sign yet of where the floor sits.

All eyes now turn to whether Chinese tech can find any footing — or whether the streak stretches to an 11th week.