Its called pricking a bubble.
Soon you'll see police patrolling shanghai stock exchange

Today, NYSE has been down for hours due to a "technical hitch".Is this the beginning of the collapse of global equities?

The Chinese government orchestrated the whole thing when they urged people to get loans and invest in the stock market. They even lowered interest rates to a record low so people would be lured in getting loans. This as we all know is pure risk, and Chinese banks are susceptible to a crash if the market continues the trend. Major American banks are also exposed but not by much. Good thing is few foreign investors have direct exposure to these stock markets coz China still limits the amount of overseas investment.

Majority of the people affected are the Chinese themselves, who own stocks of small companies. Since most of them did margin trading (buying stocks with borrowed money) there's an accelerated sell off to recover capital and we all know how that goes. In a country on 1.5B people, there are only 90 million trading accounts, it will take more bleeding for the downfall to affect other markets. If it does, countries like Australia and Hong Kong will be the first to bleed. Be sure to enter at the bottom of the wave.

Though the market will start a slow decline after that unless the firms being supported have real earnings. Slow punctures make investors complacent and they start trying to average down based on PAST purchase prices vs fundamentals.

It is a losing strategy though HK and Singapore did well but they stepped in to prevent massive fallout [from the Global Financial Crisis] rather than just support high prices. Or they were lucky.

In Kenya, the government should be divesting not adding to their portfolios. It's tough love but necessary. Look at KQ. Or Mumias. Or Panpaper. Or NBK.

KCB started recovering after GoK reduced its stake & private investors [Mbaru, Kirubi, Sunil Shah] started acquiring large stakes and making changes.

KenGen will be the next test for GoK. I feel they should go for PPPs and convert loans to equity (non-cash) but NOT give more cash to KenGen.