tirsdag 21. september 2021

Fears about China's Evergrande spread to global markets

Global investors have been paying more and more attention to Evergrande, the sprawling Chinese real estate business on the brink. They're increasingly worried about what they see.What's happening: Stocks in Europe tumbled Monday morning after Hong Kong's Hang Seng dropped 3.3%, suffering its worst decline in nearly two months. Chinese banks, insurers and other real estate companies were slammed. US futures are also sharply lower. Shares of Evergrande Group (EGRNF) plummeted 10% in Hong Kong, hitting just 2.28 Hong Kong dollars ($0.29) per share. The stock has shed 84% so far this year.