September 21: Market Summary
Stocks close mixed ahead of Fed meeting
Here are today’s market moves:
U.S. stocks finished mixed on Tuesday, oscillating between losses and gains as investors try to assess the Evergrande situation.
Some are calling this event the “Lehman moment” of China, although it is unlikely to get that bad.
The S&P 500 and Dow Jones fell for a fourth consecutive day, marking the worst stretch for the S&P 500 since mid-May.
All eyes are on the Federal Reserve tomorrow. The Fed may try to soothe markets, while signaling that it will begin to pare back support soon.
The crypto market fell on Tuesday, with Bitcoin trading below $42k, as crypto gets caught up in the Evergrande selloff.
SEC Chair Gary Gensler says he doesn’t see much long-term viability for cryptocurrencies.
Google plans to buy New York office building for $2.1 billion, one of the biggest office space deals since the pandemic started.
Evergrande declines further after S&P says default is likely.