SPY Down tomorrow here is why
As we are all aware Evergrande is in some deep doo-doo. The amount of debt is unknown with bonds, and other derivatives. The Chinese market has been frozen since Monday and scheduled to open tonight. This left many retail investors unable to escape the wrath of which this event is unfolding. As we know the American banks and hedge firms are tied to this event, which is still unfolding. On Friday, Evergrande is due another payment on tthe intrest in which the bonds carry. One other issue I'd like to point out is that Evergrande is not the only issue here. Other developers in China also face issues. This goes without saying that this is the begining of the begining and I would suspect more downside through out the week. This is my opinion and I am not a financial advisor.
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