Global shares slide as mood darkens once more

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Expectations that Turkey will cut rates further and China Evergrande abandoning $2.6bn sale take centre stage

Screens at the London Stock Exchange in London, the UK. Picture: BLOOMBERG/LUKE MACGREGOR

“There is little bit of risk aversion,” said Societe Generale’s Kit Juckes, who pointed to the higher yen and that both European stocks and Wall Street S&P 500 futures were both in the red. Evergrande will default on $19bn of international market bonds if it doesn’t make an already overdue coupon payment by Monday. It would the biggest Chinese default and one the world’s largest too. Lehman Brothers’ collapse added up to $35bn.

It did so last month and the lira has hit a string of record lows in recent sessions after another major ousting of central bank policymakers last week left investors doubting the bank’s independence from the government. But a soft finish on the Nasdaq flowed through to selling of tech stocks in Tokyo and in Hong Kong, where the Hang Seng fell 0.8%.

 

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