Stock markets slumped amid worries about instability in China’s financial system, creating uncertainty over one of the world’s top economies.



ARI SHAPIRO, HOST:

There was a major sell-off in markets around the world today. The Dow fell 614 points, or about 1.8%, its worst day in more than two months. It did recover some of those losses at the end of the trading day. The big dip was all sparked by a Chinese property company that many Americans have never heard of. NPR’s David Gura joins us to explain.

Hi, David.

DAVID GURA, BYLINE: Hey, Ari.

A SHAPIRO: First, tell us about what happened today.

GURA: So this is the world in which we live. I mean, one company can affect markets worldwide. There was this big sell-off in Chinese real estate stocks and one company in particular. The Evergrande Group is a real estate developer. It’s a massive conglomerate based in the city of Shenzhen….

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