Vox Sentences: "China has lost 15 Greeces," and other news from the fiscal universe

It's been a strange day ... hope everyone is looking forward to some finance-heavy news!

Getty / ChinaFotoPress

China's stock markets took a tumble

• China's stock market has crashed by 32 percentage points in the last month, leading to concern about how the world's second-largest economy will impact other markets.

  [Vox / Timothy B. Lee]

• This tweet pretty much sums up the crisis: "China has lost 15 Greeces in market cap in three weeks."

  [Vox / Margarita Noriega]

• The depreciation amounts to nearly one-third of the value of the Chinese stock market, which in the past year has seen aggressive increases.

  [Vox / Timothy B. Lee]

• There is a possibility that the market's decline could affect the global economy as, among other things, Chinese consumer spending on travel and luxury goods decreases.

  [Quartz / Heather Timmons and Gwynn Guilford]

• Much of the blame for the market's crash has been placed on China's habit of playing the stock market on borrowed cash. This graph shows how much of that was going on.

  [Vox / Timothy B. Lee]

• Treasury Secretary Jack Lew calmed investors by suggesting that China's dip will not greatly impact US markets.

  [Los Angeles Times / Don Lee and Dean Starkman]

• The crash comes at a bad time for Chinese officials, as they try to pass reforms to open up their markets.

  [NYT / Keith Bradsher and Chris Buckley]

• Officials are also struggling to reassure the Chinese population, as criticism of the government's passive response mounts.

  [WSJ / Lingling Wei]

• According to strategist Patrick Chovanec, China's current economic woes are merely the symptoms of overall problems with China's fiscal policy.

  [Vox / Ezra Klein]

• For those who are more visually minded, here are eight charts that explain China's crash.

  [Vox / Timothy B. Lee]

Getty / Justin Sullivan

Technical glitches abound

• Technical issues caused the New York Stock Exchange to halt for several hours today, before coming back online at 3:10 pm.

  [WSJ / Saumya Vaishampayan and Bradley Hope]

• There was some concern, as United Airlines also experienced a technical glitch.

  [Vox / Andrew Prokop ]

• These two charts can help visualize what the trading halt looked like at the NYSE.

  [Wonkblog / Zachary A. Goldfarb]

• At 3:10, trading resumed for a little less than an hour. The market closed 192 points down.

  [NYT / Nathaniel Popper]

• United Airlines' problems caused its second serious grounding in recent weeks, with an estimated half a million travelers affected.

  [Forbes / Dan Reed]

• However, the one today doesn't seem to have caused anything more than the usual delays that people have come to expect.

  [Vox / Joseph Stromberg]

• The White House denied reports that the technical issues were caused by "malicious intent."

  [Reuters / Julia Edwards]

• The Wall Street Journal also experienced a brief outage following the NYSE glitch, as desktop users were only able to access a modified version of the news site.

  [International Business Times / Kerry Flynn]

Getty / Christopher Furlong

The Greek crisis continues

• Greece requested a three-year loan from the European Parliament, ahead of the Thursday deadline set for making a deal with its creditors.

  [NYT / Niki Kitsantonis and James Kanter]

• Prime Minister Alexis Tsipras is having a hard time finding friends among other European leaders.

  [AP / Geir Moulson and Angela Charlton]

• How the response to the Greek crisis shows the flaws in the European Union's radical experiment.

  [Vox / Amanda Taub]

• From squabbles with fellow EU members to banking regulations, here are five reasons the EU might be better off without Greece.

  [Vox / Matty Yglesias]

• Pew has a list of five facts to know about Greece and the EU, including data on European stereotypes (hint: Greece loves itself).

  [Pew / Bruce Stokes and Sara Kehaulani Goo]

• Why American conservatives might recognize a little Tea Party in the philosophy of the Greek government.

  [The Week / Michael Brendan Dougherty]

• The Guardian's Simon Jenkins warns that Greece should swiftly exit the eurozone for the sake of its own recovery.

  [The Guardian / Simon Jenkins]

• Creating a new drachma for Greece would have its own challenges.

  [AP / Paul Wiseman]

• For those looking for a silver lining: An elderly Cypriot has decided to donate his pension to the Greek government in order to help the country's struggling poor.

  [Huffington Post / Charlotte Alfred ]

Misc.

• Nate Silver estimates that Democratic presidential hopeful Bernie Sanders might win Iowa and New Hampshire ... and nowhere else.

  [FiveThirtyEight / Nate Silver]

• A federal judge ruled against the Washington Redskins' trademark on the grounds that the team's name could be considered offensive to Native Americans.

  [Politico / Nick Gass]

• According to recently released census data, California joined New Mexico and Hawaii as a state with a nonwhite plurality.

  [Vox / Tez Clark ]

• Despite his controversial comments regarding Mexican immigrants, Donald Trump is pretty sure he will win the Latino vote.

  [The Hill / Mark Hensch]

• Marie Curie's research notes are over 100 years old — and still radioactive.

  [Gizmodo / Adam Clark Estes]

• A quick look at the history of desperate campaign donation emails.

  [Boston Review / Andrew Mayersohn]

Verbatim

• "Months later, by September, Marta knew in her gut that Elmer was dead. Her new mission was to find his body and return it to his family in El Salvador, so his young daughter would have a place to visit her father. So she headed south to Brooks County."

  [Texas Observer / John Carlos Frey]

• "A fascinating Gallup poll shows that Republicans are actually becoming increasingly enamored of the flag over time."

  [Vox / Matt Yglesias ]

• "Donald Trump is running for president because Donald Trump may well be the thirstiest human being on Earth."

  [Vox / Dara Lind]

• "We want to broaden how we can appeal to this very empowered, strong, accomplished, and influential female audience. ... We don't necessarily want to speak to them differently, because we understand that they have some of the same wants, demands, and desires in their vehicles as men do."

  [Marissa Hunter to Racked / Tamara Warren]

• "Answers in Genesis researchers believe the ark could have held 16,000 animals, including dinosaurs, and used modern systems to store food and water."

  [Curbed / Corinne Ramey]

• "Slavery is a battle we’ve won, and the fights that are left are hopefully lesser ones. But that defining victory can still instruct us, among other things, about the link between marriage and liberty."

  [The New Yorker / Amy Davidson]

Video of the day

• This poignant video from the Equal Justice Initiative looks at the history of race in America, from the slave trade until the present day.

  [Youtube]

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