Defaults on debts in the property sector since 2021 have resulted in half-finished apartment buildings, disgruntled homebuyers and fears the industry’s troubles might further slow the world’s second-largest economy and shake global financial markets.
On Friday, Wall Street benchmarks fell, with technology stocks posing the biggest drag on the market. Investors are bound to focus on the Fed’s meeting. The central bank raised rates aggressively through 2022 and 2023 in an effort to tame inflation, but it maintained interest rate levels at its last meeting. Inflation has generally been easing back to the central bank’s target of 2%.
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