10 things you need to know today: August 25, 2015

Global stocks stabilize as Chinese shares fall again, North and South Korea reach a deal to avert war, and more

Chinese stocks keep tumbling.
(Image credit: (AP Photo/Mark Schiefelbein))

1. World stocks rebound slightly despite another sharp fall in China

Global stock markets showed signs of stabilizing on Tuesday, despite another steep dive for China's benchmark Shanghai index, which closed down 7.6 percent. Shares around the world took a volatile ride on Monday as investors panicked over the troubles in China, the world's second largest economy. The Dow Jones Industrial Average fell by a gut-wrenching 1,000 points after Monday's opening bell, then bounced around all day before closing down nearly 600 points. All three major U.S. indexes fell by nearly 4 percent.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.