On Common Ground News – 24/7 local newsOn Common Ground News – 24/7 local news
  • Home
  • Local News
    • Atlanta
    • DeKalb
    • Rockdale
    • Gwinnett
    • City of Stonecrest
  • Legal Notices
  • HelpLines
  • Crime
  • COVID-19
  • Coming Up
  • Business
  • Education
  • Life
    • Restaurants
    • Travel
    • Explore
    • Special Events
    • Community Calendar
    • 2021 Graduates
  • People
  • Op/Ed
  • Obituaries
  • Contact Us
What's Hot

Metro Atlanta law enforcement agencies, National Guard brace for this weekend following violent protests

January 28, 2023

Atlanta Public Schools to host job fair Jan. 28

January 27, 2023

City of Stonecrest to launch independent review of proposed zoning amendment concerning SeaQuest

January 27, 2023
Facebook Twitter Instagram
Sunday, January 29
[Valid RSS]
Facebook Twitter Instagram
On Common Ground News – 24/7 local newsOn Common Ground News – 24/7 local news
  • Home
  • Local News
    • Atlanta
    • DeKalb
    • Rockdale
    • Gwinnett
    • City of Stonecrest
  • Legal Notices
  • HelpLines
  • Crime
  • COVID-19
  • Coming Up
  • Business
  • Education
  • Life
    • Restaurants
    • Travel
    • Explore
    • Special Events
    • Community Calendar
    • 2021 Graduates
  • People
  • Op/Ed
  • Obituaries
  • Contact Us
On Common Ground News – 24/7 local newsOn Common Ground News – 24/7 local news
Home»Headlines»Nation Headlines»GLOBAL MARKETS-World shares tumble as China Evergrande contagion fears rise – Devdiscourse

GLOBAL MARKETS-World shares tumble as China Evergrande contagion fears rise – Devdiscourse

0
By On Common Ground News on September 20, 2021 Nation Headlines, Headlines
Share
Facebook Twitter LinkedIn Pinterest Email


Reuters | Beijing | Updated: 20-09-2021 20:34 IST | Created: 20-09-2021 20:32 IST

World stocks tumbled on Monday and the dollar firmed as troubles at property group China Evergrande sparked concerns about spillover risks to the economy, creating a fresh investor worry ahead of a busy week of central bank meetings.

MSCI’s gauge of stocks across the globe dropped 1.44%, on pace for its biggest one-day fall in two months, as Wall Street’s major indexes slid more than 1% in early trade. Investors moved into safe havens, with U.S. Treasury yields gaining in price, pulling down yields, and gold rising.

Shares in Evergrande, which has been scrambling to raise funds to pay its many lenders, suppliers and investors, closed down 10.2% at HK$2.28. Regulators have warned that its $305 billion of liabilities could spark broader risks to China’s financial system if its debts are not stabilized. Paul Nolte, portfolio manager at Kingsview Investment Management in Chicago, said the concern was that trouble at Evergrande could be “China’s ‘Lehman moment'”, when the collapse of a U.S. investment bank helped bring on a wider financial crisis.

On Wall Street, the Dow Jones Industrial Average fell 466.43 points, or 1.35%, to 34,118.45, the S&P 500 lost 65.12 points, or 1.47%, to 4,367.87 and the Nasdaq Composite dropped 267.52 points, or 1.78%, to 14,776.45. Economically sensitive sectors, including financials and energy, were hit particularly hard.

The pan-European STOXX 600 index dropped 1.83%, with mining stocks skidding. The selloff on Monday has seen a cumulative $2.2 trillion of value being wiped off the market capitalization of world equities from a record high of $97 trillion hit on Sept. 6, according to Refinitiv data.

Concerns over Evergrande come as equities have faltered recently as investors worry over the impact of coronavirus cases on the economy and when central banks will ease back on monetary stimulus. The U.S. Federal Reserve is due to meet on Tuesday and Wednesday as investors look for when it will begin pulling back on its bond purchases.

Investors were also keeping an eye on other central bank meetings spanning Brazil, Britain, Hungary, Indonesia, Japan, Norway, the Philippines, South Africa, Sweden, Switzerland, Taiwan and Turkey. In currency trading, the dollar index rose 0.137%, with the euro down 0.09% to $1.1714.

The Japanese yen strengthened 0.37% versus the greenback at 109.56 per dollar. Benchmark 10-year notes last rose 14/32 in price to yield 1.3243%, from 1.37% late on Friday.

The iShares exchange-traded fund tracking high-yield corporate bonds edged down 0.3% in early trading on Monday. Oil fell amid the rising risk aversion, although crude pared earlier losses on signs that some U.S. Gulf output will stay offline for months due to storm damage.

U.S. crude fell 1.6% to $70.82 per barrel and Brent was at $74.41, down 1.23% on the day. Spot gold added 0.5% to $1,763.36 an ounce, rising off of a one-month low.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Post Views: 1,478
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
On Common Ground News

Related Posts

USA News Live: US will re open to international travellers with vaccine requirements – Times of India

September 20, 2021

USA News Live: US will re open to international travellers with vaccine requirements – Times of India

September 20, 2021

5 Things First: The Top Czech and World News Headlines – Prague Morning – On Common Ground News

September 20, 2021
Add A Comment

Leave A Reply Cancel Reply

Latest Post

Metro Atlanta law enforcement agencies, National Guard brace for this weekend following violent protests

January 28, 2023

Atlanta Public Schools to host job fair Jan. 28

January 27, 2023

Subscribe to Updates

Get the latest news updates from OCGNews.

About Us
About Us

On Common Ground News is published 24/7 by On Common Ground, Inc (OCGNEWS.COM).
The news outlet was founded in April, 1995.

Facebook Twitter YouTube
Latest Posts
  • Metro Atlanta law enforcement agencies, National Guard brace for this weekend following violent protests
  • Atlanta Public Schools to host job fair Jan. 28
  • City of Stonecrest to launch independent review of proposed zoning amendment concerning SeaQuest
  • From our archives: Family, friends host 88th birthday celebration for John H. Evans

Subscribe to Updates

Get the latest news updates from OCGNews.

© 2023 On Common Ground News.
  • Home
  • Life

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT