Nir Elias/Reuters
- China's stock markets have chalked up over $6 trillion in losses since 2021.
- The market meltdown reflects a loss in investor confidence and questions over Beijing's will to stimulate the economy.
- A relatively new derivative product called "snowballs" is adding to a vicious cycle of selling.
China's stock markets are in meltdown mode, chalking up over $6 trillion in losses since 2021 with no let-up in this new year.