A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Sept. 20, 2021. Shares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with both Tokyo and Shanghai closed.
Worries about debt-engorged Chinese property developers — and the damage they could do to investors worldwide if they default — are rippling across markets. Banks posted big losses as bond yields slipped. That hurts their ability to charge more lucrative interest rates on loans. The yield on the 10-year Treasury fell to 1.32% from 1.37% late Friday. Bank of America fell 3.1%.Utilities and other sectors that are considered less risky held up better than the rest of the market.
Many analysts say they expect China’s government to prevent a blowup serious enough to cause losses to cascade through markets. But any hint of uncertainty may be enough to upset Wall Street, after the S&P 500 has glided higher in almost uninterrupted fashion since October.
Whatever
Soon other countries will get out of the RIGGED WALL STREET GAME.
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nice
So the global stock market is down due to Hong Kong.
Biden’s economy.. the downhill starts..
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