IMO - It's Greece not China driving the news. We have been waiting over a year for the other Greece shoe to fall and see what Germany will do about it. When Greece was given the first loan, there was so much talk about the problem of the austerity program + EU control + Germany's power + kicking it down the road + consequences of EU defaults that I purposely went into my bear cave and missed some good 2013/2014 gains. But we all knew that we would have to pay the piper sooner or later. Loans are coming due and the economy has not improved enough. So Germany has two choices, provide more money to Greece (Italy, Ireland,...) or let the country go bankrupt (or something in-between). The markets are anticipating that it will not be a new loan, but maybe it will be something less than bankruptcy. The weekend should bring some clarity as the EU negotiates a solution.