U.S. stock-market investors appear to have largely
Post# of 27044
(Total Views: 150)
Posted On: 09/26/2021 7:09:00 AM
U.S. stock-market investors appear to have largely put worries over China Evergrande, the Chinese property giant teetering on the brink of default, behind them. But analysts argue that the stakes will remain high as the situation plays out in coming weeks and months.
EVERGRANDE Debacle not over!!!!!
“The risk posed by the Evergrande crisis is an acid test for the resilience of the post-COVID market recovery,” said Seema Shah, chief strategist at Principal Global Investors, in a Friday note.
Fears of a disorderly default by Evergrande that could threaten the Chinese and global financial system were on display Monday as global equities and other assets perceived as risky tanked, sending the Dow Jones Industrial Average DJIA, +0.10% down more than 600 points, or 1.8%, while the S&P 500 SPX, +0.15% slumped 1.7%. Investors piled into haven assets, including U.S. Treasurys TMUBMUSD10Y, 1.454%, driving yields sharply lower.
Financial markets soon found their footing, with equities roaring back Wednesday and Thursday, turning major U.S. indexes positive for the week. Worries about Evergrande appeared to ebb as the People’s Bank of China pumped significant liquidity into the financial system.
EVERGRANDE Debacle not over!!!!!
“The risk posed by the Evergrande crisis is an acid test for the resilience of the post-COVID market recovery,” said Seema Shah, chief strategist at Principal Global Investors, in a Friday note.
Fears of a disorderly default by Evergrande that could threaten the Chinese and global financial system were on display Monday as global equities and other assets perceived as risky tanked, sending the Dow Jones Industrial Average DJIA, +0.10% down more than 600 points, or 1.8%, while the S&P 500 SPX, +0.15% slumped 1.7%. Investors piled into haven assets, including U.S. Treasurys TMUBMUSD10Y, 1.454%, driving yields sharply lower.
Financial markets soon found their footing, with equities roaring back Wednesday and Thursday, turning major U.S. indexes positive for the week. Worries about Evergrande appeared to ebb as the People’s Bank of China pumped significant liquidity into the financial system.
(0)
(0)Scroll down for more posts ▼