Photo: Diptendu Dutta / AFP/ via Getty Images

Twitter advised that all users change their passwords Thursday after the social media site discovered it had stored them in a log in plain text rather than encrypted form.

According to a blog post from the company, there is no evidence that passwords were misused or stolen, and the advisory is out of caution. The announcement, at roughly 4 p.m. Eastern time, came just as the market closed. Twitter stock immediately dropped 2.5% in after hours trading, then recovered most of the loss.

What they're saying: "We are very sorry this happened. We recognize and appreciate the trust you place in us, and are committed to earning that trust every day," wrote Parag Agrawal in the Twitter blog.

Why it matters (to users): The best practice in the industry is to keep all personal information in a format that cannot be read by hackers or employees. That minimizes the impact in the case of an insider breach.

Why it matters (to Twitter): Following the Facebook scandals, trust in social media sites is at a low. Minimizing any potential risk is not just good ethics, it's also good business.

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Fund managers start to board the stock bandwagon

Illustration: Aïda Amer/Axios

Asset managers at major U.S. investment firms are starting to get bullish with their clients, encouraging stock buying and trying not to get left behind right as the metrics on tech stocks rise back to highs not seen since the dot-com crash of 2000.

What's happening: Appetite for stocks is starting to return, but slowly as institutional money managers were overwhelmingly sitting on the sidelines in cash during April and May.

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China bans Cruz and Rubio over Xinjiang criticism

Photos: Graeme Jennings/Pool/Getty Images; Al Drago/Pool/Getty Images

China said Monday that it will ban entry to Sens. Marco Rubio (R-Fla.) and Ted Cruz (R-Texas) over their criticisms of human rights abuses in Xinjiang, the AP reports.

The big picture: The move seems to be retaliatory after the U.S. announced sanctions on four Chinese officials for human rights abuses against Uighur Muslims and other ethnic minorities in the region last week.

Roger Stone says he plans to campaign for Trump

Roger Stone appears yesterday outside his home in Fort Lauderdale. Photo: Johnny Louis/Getty Images

Roger Stone told Axios in a phone interview that he plans to write and speak for President Trump's re-election now that Stone "won't die in a squalid hellhole of corona-19 virus."

"I'm asthmatic," said Stone, 67. "Sending me to a prison where I could not be socially distanced ... would, I think, be a death sentence."