A plunge in stock prices in China, with its nerve-rattling aftershocks in the U.S., may prompt law firms to further scrutinize their strategy in China.

The Shanghai Composite Index tumbled 8.5 percent on Monday—its greatest one-day decline since 2007. The index has dropped 38 percent since mid-June, and when China unexpectedly devalued its currency earlier this month, the move sparked further concerns about the extent of the country’s economic slowdown.