Wall Street joins global sell-off as Evergrande crisis intensifies via @FT
https://t.co/Snd1bEpbdW— Stare Decisis (@MsResJudicata) September 20, 2021
Source:
Finanical Times –
https://www.ft.com/content/952923b7-f421-407e-b14a-ad2ff190a134
Marketwatch on why Evergrande is down 13% this morning.
It’s a bloodbath across china today. People I know have no idea what’s happening and are panicking.
If you think Evergrande is having a bad day, take a look at this property developer, Sinic. -87%
Evergrande already having an effect here in Australia. Iron Ore futures drop 6.1%. ASX down 2%. Every $US10 the price of Iron falls, nominal GDP decreases by $6.5 billion. Media saying Chinese real estate investors may liquidate properties in Australia to stay afloat
https://twitter.com/michaeljburry/status/1439831160306032646
h/t JustANyanCat