Posted on Sep 21, 2021
A Chinese Real Estate Company Is Walloping Your Stocks. Here's Why
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https://www.npr.org/2021/09/20/ [login to see] /china-evergrande-wall-street-stocks-selloff
Stock markets from Hong Kong to New York were hit by a major sell-off on Monday as a massive Chinese real estate conglomerate called China Evergrande Group faces a potentially devastating debt default.
The Dow Jones Industrial Average slumped 614 points, its worst performance in about two months, after earlier falling more than 900 points. The S&P 500 and Nasdaq also fell sharply, posting their worst daily percentage falls since mid-May.
The Evergrande Group owes roughly $300 billion, and investors fear a default could destabilize the financial system in China, one of the world's top economies.
The worries about Evergrande come at a delicate time for Wall Street, which has gone from a record-setting run earlier this year to hefty falls this month.
Investors are facing a growing list of worries, from the Delta variant to a potential debt default by the U.S. government here at home.
Here are three things to know about the stock market:
Stock markets from Hong Kong to New York were hit by a major sell-off on Monday as a massive Chinese real estate conglomerate called China Evergrande Group faces a potentially devastating debt default.
The Dow Jones Industrial Average slumped 614 points, its worst performance in about two months, after earlier falling more than 900 points. The S&P 500 and Nasdaq also fell sharply, posting their worst daily percentage falls since mid-May.
The Evergrande Group owes roughly $300 billion, and investors fear a default could destabilize the financial system in China, one of the world's top economies.
The worries about Evergrande come at a delicate time for Wall Street, which has gone from a record-setting run earlier this year to hefty falls this month.
Investors are facing a growing list of worries, from the Delta variant to a potential debt default by the U.S. government here at home.
Here are three things to know about the stock market:
A Chinese Real Estate Company Is Walloping Your Stocks. Here's Why
Posted from npr.org
Stock Market
Stock Trading
Investing
Real estate
China
Posted 3 y ago
Responses: 3
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Hey!!! It's a global economy now people. You can't be a isolationist anymore. Trouble is, China has decided that business must be run on Chinese communist terms. Lots of turmoil over there and it will probably get worse for a while. They are the world's second largest economy. So when they get a itch, everybody scratches.
Personally, I'm not that worried. America can always bounce back. Look what Clinton did when he fairly taxed the rich and within a few years we had wiped out the Reagan debt and had a budget surplus. I best repeat that, TAXED THE RICH AND WE HAD A SURPLUS. Anyway, I know what party stuck us with huge deficits 4 TIMES and then a additional mess on top of it. America can bounce back when we have honest leadership and fair tax laws.
Personally, I'm not that worried. America can always bounce back. Look what Clinton did when he fairly taxed the rich and within a few years we had wiped out the Reagan debt and had a budget surplus. I best repeat that, TAXED THE RICH AND WE HAD A SURPLUS. Anyway, I know what party stuck us with huge deficits 4 TIMES and then a additional mess on top of it. America can bounce back when we have honest leadership and fair tax laws.
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The Chinese are starting to amass great amounts of currency... They are investing an enormous amount of money in Africa and other places when their own countries infrastructure is falling apart.... smart or dumb.... I don't know, but it is so.
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I don't own any Chinese real estate, and only two US stocks, so screw the market. It's legalized gambling for many. Nothing wrong with prudent investing though.
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