Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Chinese online media giant SINA (Nasdaq: SINA) hit the Great Wall today, falling as much as 10.2% on above-average volume.

So what: Media reports said that the Chinese government might put limits on online-media and social-networking sites to curb the so-called Jasmine Revolution, which would put SINA right in Beijing's crosshairs. But the pain didn't last: SINA closed the day with a smaller 4.8% drop.

Now what: Fellow China-based internet veterans Sohu (Nasdaq: SOHU) and Baidu (Nasdaq: BIDU) also felt the sting of the censorship reports but recovered to gains on the day. SINA has been through these Big Brother swings before and survived to blog another day. SINA's Weibo service, which is something like a Chinese version of Twitter, may yet help China make the move to democracy, which is exactly why the incumbent rulers want to make it go away. This story is getting intense.

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Fool contributor Anders Bylund holds no position in any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of SINA, Baidu, and Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.