Stock futures are slipping ahead of Tuesday’s open, following more fallout from China’s regulatory crunch, which drove Hong Kong’s Hang Seng index HSI, -4.22% to its lowest since Nov. 4, 2020.
That brings us to our call of the day from The Market Ear blog, which breaks down some potential risks ahead for markets and one possibility — big investors getting hurt by China fallout may end up less willing to take on risk elsewhere. “The latest casualty from last week was the edtech sector. Top 10 holders of TAL Education TAL, -26.67% are all Western names. You get the point. Losses are not only a local problem. And we would not be surprised to see some hedge funds reporting significant losses for the month of July. With moves like these there is most of the time some blood in the water,” said the blogger.
Tesla TSLA, +2.21% profit topped $1 billion for the first time in the electric car maker’s history and its sales nearly doubled, busting past expectations, though Chief Executive Elon Musk noted a “serious” chip shortage is cutting into output, and has delayed its commercial truck.
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