Will Evergrande’s Liquidation Affect The U.S. Stock Market Today?
A court in Hong Kong ordered the liquidation of $300 billion in assets for China’s largest real estate firm Evergrande. The stock price of Evergrande tumbled 20% before the court verdict forcing the authorities to halt trading the shares. Evergrande’s liquidation could create ripple effects of a downturn for both Asian and the U.S. stock markets on Monday.
Also Read: BRICS: Morgan Stanley Predicts Future of the U.S. Dollar
However, the Asian market withstood Evergrande’s liquidation and is trading in the green during Monday’s opening bell. Read here to know a realistic price prediction on how the U.S. stock market will fare in 2024.
How Will the U.S. Stock Market React on Monday After the Evergrande Liquidation of $300 Billion in Assets?
The Hang Seng index is up nearly 125 points while India’s Sensex index spiked close to 1,000 points. The Chinese and the broader Asian stock markets rallied on Monday despite Evergrande’s $300 billion in liquidation. Therefore, the U.S. stock market might not be affected due to Evergrande’s liquidation as the Asian markets quickly recovered from it.
Also Read: BRICS Expansion a Threat To SWIFT Payment System & US Dollar
The Dow Jones Industrial Average ended Friday nearly 61 points up and could continue the price surge this week. The U.S. stock market overcame several challenges in 2023 including calls of a recession from leading analysts and global banks.
JP Morgan and Standard Chartered had both predicted a recession in 2023 but the U.S. stock market sailed through. Similar sentiments are being echoed in 2024 forecasting a U.S. stock market downfall during Q2 of this year.
Also Read: BRICS: Africa to Ditch US Dollar as World Bank Fails To Provide Funds?
However, now that the Federal Reserve is cooling down inflation from 6.5% to 3.1%, the economy remains on the right track. The Federal Reserve has been paying more attention to inflation for a year and bringing prices down.
Read here to know which U.S. stocks ace investor Warren Buffet’s Berkshire Hathaway is massively accumulating this year in 2024.
Read More
Will Evergrande’s Liquidation Affect The U.S. Stock Market Today?
A court in Hong Kong ordered the liquidation of $300 billion in assets for China’s largest real estate firm Evergrande. The stock price of Evergrande tumbled 20% before the court verdict forcing the authorities to halt trading the shares. Evergrande’s liquidation could create ripple effects of a downturn for both Asian and the U.S. stock markets on Monday.
Also Read: BRICS: Morgan Stanley Predicts Future of the U.S. Dollar
However, the Asian market withstood Evergrande’s liquidation and is trading in the green during Monday’s opening bell. Read here to know a realistic price prediction on how the U.S. stock market will fare in 2024.
How Will the U.S. Stock Market React on Monday After the Evergrande Liquidation of $300 Billion in Assets?
The Hang Seng index is up nearly 125 points while India’s Sensex index spiked close to 1,000 points. The Chinese and the broader Asian stock markets rallied on Monday despite Evergrande’s $300 billion in liquidation. Therefore, the U.S. stock market might not be affected due to Evergrande’s liquidation as the Asian markets quickly recovered from it.
Also Read: BRICS Expansion a Threat To SWIFT Payment System & US Dollar
The Dow Jones Industrial Average ended Friday nearly 61 points up and could continue the price surge this week. The U.S. stock market overcame several challenges in 2023 including calls of a recession from leading analysts and global banks.
JP Morgan and Standard Chartered had both predicted a recession in 2023 but the U.S. stock market sailed through. Similar sentiments are being echoed in 2024 forecasting a U.S. stock market downfall during Q2 of this year.
Also Read: BRICS: Africa to Ditch US Dollar as World Bank Fails To Provide Funds?
However, now that the Federal Reserve is cooling down inflation from 6.5% to 3.1%, the economy remains on the right track. The Federal Reserve has been paying more attention to inflation for a year and bringing prices down.
Read here to know which U.S. stocks ace investor Warren Buffet’s Berkshire Hathaway is massively accumulating this year in 2024.
Read More