September 20: Market Summary

Markets in turmoil amid Evergrande fears


Markets

Here are today’s market moves


What Happened?

  • The S&P 500 and other major indexes tumbled on Monday amid concerns about China’s troubling property market.

  • China’s largest property developer, Evergrande, is facing billions of debt with the threat of default. Investors worry it might send ripples across the global economy.

  • The S&P 500 and Dow Jones are down 3.65% and 3.93% so far in September, a month that is generally poor for stocks.

  • The crypto market fell on Monday, with Bitcoin trading near $43k, as cryptocurrencies sold off alongside other risk assets.


Catch Up

  1. Wall Street’s “fear index,” the Cboe Volatility Index (VIX), climbs to highest level since May.

  2. Coinbase cancels launch of ‘Lend’ product following SEC lawsuit threat.

  3. Yellen warns failure to raise the debt ceiling could trigger an 'economic catastrophe.'


What Else?