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  • Stocks fell on Monday due to the escalating debt crisis for Chinese property developer Evergrande.
  • Seven strategists lay out whether the debt crisis is a contagion risk.
  • They share positioning recommendations, including whether it’s time to buy the dip.

On Monday, stock market indices around the globe spent most of the day flashing red. The S&P 500 and Dow Jones Industrial Average experienced their worst days since last October with both indexes seeing more than a 5% intraday decline from their September 2 highs.

In Europe, the Euro Stoxx 50 lost 2.1% and London’s FTSE 100 moved 1.7% lower. Even cryptocurrencies were affected, with bitcoin (BTC) falling around 8%, trading near $43,000.

The key driver of the decline was the escalating crisis surrounding Chinese property developer, Evergrande.

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