It was the worst performance since May for the S&P and the Nasdaq, while the Dow logged its worst day since July.Stocks spent the whole day deep in the red and the Dow fell more than 970 points at its low point. The market recovered slightly before the closing bell rang, but it was still an awful session: The Dow finished down 1.8%, or 614 points. The S&P 500 , the broadest measure of Wall Street, closed down 1.7%, while the Nasdaq Composite fell 2.2%.
But in spite of the timing, it's far from certain that Evergrande's crisis will become a similarly systemic event, according to Ryan Detrick, chief market strategist for LPL Financial. For one, Evergrande has physical assets that could be sold to help settle its debts, Detrick said. He also expects a restructuring — rather than a default — of Evergrande's US dollar-denominated bonds.
For the first time since May, we'll be hearing comments about the stock market from Donald Trump & the GOP.
Havent had any kind of actual correction in a VERY long time. Relax
Calm down everyone, 2 % drop means nothing
We will crash the market before the left can tax capital gains.
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Source: CNN - 🏆 4. / 95 Read more »