Chinese Stocks Suffer Big Losses

Transcript

DAVID GREENE, HOST:

NPR's business news begins with another bad day for Chinese stocks.

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GREENE: The major indexes in China closed down more than five percent - making it the worst day of losses since 2009. And the plunge reverberated, weighing down markets across Asia. The losses we apparently caused by the Chinese government's ongoing attempt to reform its banking system. It's using high interest rates to cut down on risky loans, making access to cash very tight. Transcript provided by NPR, Copyright NPR.