High-Pressure Week for Global Markets Starts With Steep Losses
- Evergrande and U.S. fiscal brinkmanship spur rout ahead of Fed
- Iron ore tumbles as China steel curbs weigh on demand
This article is for subscribers only.
A big week for global markets is off to a messy start as stocks plunge around the world and haven bids break out. Blame everything from China Evergrande Group’s woes and the collapse in iron-ore prices to fears over the U.S. debt ceiling.
The endgame for creditors to the Chinese property giant has arrived just as traders are in a state of alert before the Federal Reserve’s meeting this week.