China’s one of the biggest real estate developers Evergrande’s struggle to avoid defaulting on tens of billions of dollars of debt has pushed the global financial system into a cycle of uncertainty.nine percent to less than $42,669 while Etherium, another strong cryptocurrency, dropped almost 10 percent to $2,940 on Monday.
Especially, the market value of the Japanese companies with operations in China has declined more, such as Hitachi Construction Machinery losing over five percent of its value. It is expected from Beijing to intervene if Evergrande and lenders can’t agree on how to handle its debts, but any official resolution is expected to involve losses for banks and bondholders.
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Dow tumbles as Wall Street's fears turn to ChinaThe Dow and the broader US stock market fell sharply early Monday as Chinese real estate conglomerate Evergrande's debt crisis made American investors uneasy.
Source: CNN - 🏆 4. / 95 Read more »
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Source: CNN - 🏆 4. / 95 Read more »
Why Evergrande has suddenly exploded into a potential global financial market crisisThere's a risk to the stock market that's not covid or inflation. Here's what's going on with Evergrande: nice Oh no, not again.
Source: MarketWatch - 🏆 3. / 97 Read more »
S&P Global says default by China Evergrande could test government's capacity to backstop 'potentially substantial failures'S&P Global Ratings said Monday a default by Chinese property developer China Evergrande Group will neither lead to a tidal wave of defaults nor mere ripples... good luck
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World stocks tumble over Evergrande contagion fearsEvergrande, one of China's biggest developers, is on the brink of collapse as it wallows in debts of more than $300 billion.
Source: trtworld - 🏆 101. / 63 Read more »
U.S. Futures Inch Higher, Hong Kong Stocks StabilizeU.S. futures edged higher, suggesting American markets could regain some ground Tuesday, after concerns about the Chinese property sector helped fuel a global selloff in the previous session. wow
Source: WSJ - 🏆 98. / 63 Read more »