Stock market parries losses, but Dow, S&P 500 fall nearly 2%

68 Markets

Concerns about the spread of problems in the Chinese real estate market sparked a prolonged downturn in stock indices and put the S&P 500 on its worst day since May.

Growing concerns over real estate developer China Evergrande Group, which has the largest debt burden of any listed property management or development company in the world, has sparked a rush of riskier assets like stocks, oil and bitcoin into safer investments. The Dow Jones Industrial Average fell 614.41 points, or 1.8%, to 33,970.47, driven by stocks of Caterpillar Inc. and financial heavyweights like Goldman Sachs Group Inc.

Source Link

Leave a Reply