Money bag with up and down arrows. A sharp change in prices. Destabilization of stock markets. Speculation, speculators. Monopolization of the market and interruptions in the supply of goods, services
© Andrii Yalanskyi

(Story headline later – @ around 10.15 BST – updated as follows: “Dow futures skid 500 points as China property fears grow“, with the Dow futures down 1.45%… our “Panic, no panic. Cracks and fixes” coverage from last week can be found here. Last update @ around 12.30 BST, one hour ahead of trade in the US: “Dow futures down 650 points as pressure builds on China’s property companies“, Dow futures falling 2%)

MarketWatch reports today before lunch time in Europe:

U.S. stock futures fell sharply on Monday, with those for the Dow Jones Industrial Average tumbling 300 points, as Hong Kong-listed property companies came under fresh pressure.

Investors also were positioning ahead of this week’s Federal Open Market Committee meeting.

How are stock futures trading?

– Dow Jones Industrial Average futures YM00, -1.40% dropped nearly 400 points, or 1.1%, to 34,064

– S&P 500 futures ES00, -1.17% fell 40 points, or 0.9%, to 4,382

– Nasdaq-100 futures NQ00, -0.98% dropped 107 points, or 0.7%, to 15,217

On Friday, the Dow Jones Industrial Average DJIA, -0.48% fell 166 points, or 0.48%, to 34585, the S&P 500 SPX, -0.91% declined 41 points, or 0.91%, to 4433, and the Nasdaq Composite COMP, -0.91% dropped 138 points, or 0.91%, to 15044.

For the week, the Dow saw its third straight weekly decline, losing 0.1% and booking its longest weekly losing streak since the four weeks ending Sept. 25, 2020, according to Dow Jones Market Data. The S&P 500 fell 0.6% in a second straight week of losses, while the Nasdaq Composite lost 0.5%, also booking two straight weekly falls, according to FactSet.

What’s driving the market?

China’s property market suffered heavy losses Monday, with shares of China Evergrande 3333, -10.24% falling 13% in Hong Kong.

The 8.25% Evergrande bond that has interest payments due this week was trading at around 29 cents to the dollar on Monday, according to Reuters.

Markets were closed in mainland China for a holiday, but the Hang Seng HSI, -3.30% dropped over 3%.

That’s as Wall Street investors are poised to pick up where they left off last week — on a weaker footing.  

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