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S&P 500 Falls as China Credit Contagion Fears Deepen September Slide

By Yasin Ebrahim AiVIF.com – The S&P 500 suffered its biggest slump since May, amid fears a debt crisis at China Evergrande Group could spark credit crunch in China's crucial...
S&P 500 Falls as China Credit Contagion Fears Deepen September Slide © Reuters.

By Yasin Ebrahim

AiVIF.com – The S&P 500 suffered its biggest slump since May, amid fears a debt crisis at China Evergrande Group could spark credit crunch in China's crucial real estate sector, leading to a potential economic crisis in the world's second largest economy.

The S&P 500 fell 1.7%, and is down about 5% from its recent highs. The Nasdaq fell 2.1%, and Dow Jones Industrial Average slipped 1.8%, or 614 points, though had fallen more than 900 points at the lows of the day. 

China Evergrande Group, the second largest property company in China, has more than $300 billion in liabilities, and reports suggest it won’t hit an interest payment deadline on its offshore bonds due Thursday.

Failure of the Chinese property giant to make good on its debt payments could force it into bankruptcy, sparking a wider liquidity crisis in real estate sector -- a key component of the nation's economy - that added to investor angst over growth, the impact of the Delta variant of the coronavirus, and ongoing budget negotiations on Capitol Hill.

'The Evergrande crisis comes at a time when the Chinese consumer economy has slowed due to COVID-19 concerns ... this could combine to create growth challenges in China and many commodities," DA Davidson said in a note. "This creates more risk for U.S. equity investors, who are already navigating concerns about peak growth of U.S. GDP and corporate earnings, consumer hesitancy caused by the COVID Delta variant, inflation, and Congressional budget negotiations," it added.

Fears of the potential economic crisis in China, the largest energy consumer, sent oil prices tumbling, and triggered a more than 4% drop in energy.

Devon Energy (NYSE:DVN), APA (NASDAQ:APA), Hess (NYSE:HES) led the declines to the downside in energy.

Financials, meanwhile, were dragged lower by falling bank stocks amid a slump in U.S. Treasury yields, with Citigroup (NYSE:C), Fifth Third Bancorp (NASDAQ:FITB), and SVB Financial (NASDAQ:SIVB) nursing heavy losses.

Tech also participated in the broad-based selloff as investors appeared to take a breather from the ‘buy the dip’ mentally ahead of the Federal Reserve’s two-day meeting starting Tuesday.

Google-parent Alphabet (NASDAQ:GOOGL), Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT), ended mostly more than 1% lower. 

Travel stocks, however, sidestepped the market malaise as airlines were boosted by easing travel restrictions.

The U.S. is set to ease travel restrictions for international visitors who are vaccinated against Covid-19 in November, the White House said Monday.

American Airlines (NASDAQ:AAL), United Airlines (NASDAQ:UAL), and Delta Air Lines (NYSE:DAL) outperformed relative to broader-market meltdown.

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27-10-2021 01:53:58 (UTC+7)

EUR/USD

1.1596

-0.0009 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

EUR/USD

1.1596

-0.0009 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

GBP/USD

1.3764

-0.0004 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

USD/JPY

114.15

+0.45 (+0.40%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (0)

AUD/USD

0.7507

+0.0016 (+0.21%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

USD/CAD

1.2385

+0.0004 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (2)

EUR/JPY

132.38

+0.42 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

1.0667

-0.0008 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (2)

Gold Futures

1,794.50

-12.30 (-0.68%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Silver Futures

24.183

-0.409 (-1.66%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.4905

-0.0375 (-0.83%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (9)

Crude Oil WTI Futures

84.58

+0.82 (+0.98%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (6)

Sell (1)

Brent Oil Futures

85.64

+0.47 (+0.55%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (3)

Natural Gas Futures

5.985

-0.071 (-1.17%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

US Coffee C Futures

208.30

+5.75 (+2.84%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Euro Stoxx 50

4,223.97

+35.66 (+0.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

S&P 500

4,581.62

+15.14 (+0.33%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (5)

DAX

15,757.06

+157.83 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

7,277.62

+54.80 (+0.76%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (11)

Sell (0)

Hang Seng

26,038.27

-93.76 (-0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,306.65

-4.53 (-0.20%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,001.60

+80.70 (+0.90%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

BASF SE NA O.N.

63.740

+0.410 (+0.65%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Bayer AG NA

48.83

+0.27 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

201.95

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

280.25

+2.25 (+0.81%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Lufthansa AG

5.628

+0.154 (+2.81%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Siemens AG Class N

141.36

+2.32 (+1.67%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Deutsche Bank AG

11.905

+0.225 (+1.93%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (10)

Sell (0)

 EUR/USD1.1596↑ Sell
 GBP/USD1.3764↑ Sell
 USD/JPY114.15↑ Buy
 AUD/USD0.7507↑ Buy
 USD/CAD1.2385Neutral
 EUR/JPY132.38↑ Buy
 EUR/CHF1.0667↑ Buy
 Gold1,794.50Sell
 Silver24.183Sell
 Copper4.4905Sell
 Crude Oil WTI84.58↑ Buy
 Brent Oil85.64Neutral
 Natural Gas5.985↑ Sell
 US Coffee C208.30↑ Buy
 Euro Stoxx 504,223.97↑ Sell
 S&P 5004,581.62↑ Sell
 DAX15,757.06↑ Sell
 FTSE 1007,277.62↑ Buy
 Hang Seng26,038.27↑ Buy
 Small Cap 20002,306.65↑ Sell
 IBEX 359,001.60↑ Sell
 BASF63.740↑ Buy
 Bayer48.83↑ Buy
 Allianz201.95↑ Buy
 Adidas280.25↑ Sell
 Lufthansa5.628↑ Buy
 Siemens AG141.36↑ Buy
 Deutsche Bank AG11.905↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,800/ 5,850
(0/ 0) # 889
SJC HCM5,790/ 5,860
(0/ 0) # 900
SJC Hanoi5,790/ 5,862
(0/ 0) # 902
SJC Danang5,790/ 5,862
(0/ 0) # 902
SJC Nhatrang5,790/ 5,862
(0/ 0) # 902
SJC Cantho5,790/ 5,862
(0/ 0) # 902
Cập nhật 27-10-2021 01:54:00
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ↀ Giá vàng thế giới
$1,792.96-15.09-0.83%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2443024910
RON 95-II,III2433024810
E5 RON 92-II2311023570
DO 0.05S1871019080
DO 0,001S-V1906019440
Dầu hỏa1763017980
ↂ Giá dầu thô thế giới
WTI$84.54-0.91-1.08%
Brent$86.37-0.48-0.55%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.625,0022.855,00
EUR25.732,9927.151,49
GBP30.514,9531.789,89
JPY193,97205,16
KRW16,8320,49
Cập nhật lúc 18:54:25 26/10/2021
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