October 20, 2021
Markets

Dow Jones tanks nearly 600 points as doubts swirl over China’s property market

Stocks were under pressure Monday as concerns over China’s property bubble roiled global markets ahead of the Federal Reserve’s upcoming policy meeting. 

The Dow Jones Industrial Average plunged 586 points, or 1.7%, while the S&P 500 index and the Nasdaq Composite index declined 1.69% and 1.99%, respectively. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34098.42 -486.46 -1.41%
SP500 S&P 500 4372.8 -60.19 -1.36%
I:COMP NASDAQ COMPOSITE INDEX 14798.713245 -245.25 -1.63%

Chinese real estate developer Evergrande’s shares tumbled more than 15% Monday amid worries the company will not be able to make a debt payment later this week. 

INVESTORS SWAP CASH FOR STOCKS IN RAPID FRENZY AHEAD OF FED MEETING68

Some market watchers have called Evergrande…

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