BY ๐๐ฎ๐ฝ๐ฝ๐ ๐ง๐ฟ๐ฒ๐ฒ ๐๐ฟ๐ถ๐ฒ๐ป๐ฑ๐ โ ๐ข๐๐๐ฟ๐พ๐๐๐๐๐ || ๐ฒ๐
The S&P 500 slumped 1.8% on Monday and Tuesday, thanks to China Evergrande, the Chinese property company that looks like it is ready to default on its more-than $300 billion in debt. Cries of the next Lehman Brothersโor maybe the next Silverado?โechoed through the canyons of Wall Street as investors prepared for the worst.
The lead from Wall Street offers little clarity as the major averages opened lower on Friday and then bounced back and forth across the unchanged line, finally finishing mixed and little changed.The Dow added 33.18 points or 0.10 percent to finish at 34,798.00, while the NASDAQ eased 4.54 points or 0.03 percent to close at 15,047.70 and the S&P 500 rose 6.50 points or 0.15 percent to end at 4,455.48. For the week, the Dow rose 0.6 percent, the NASDAQ added 0.1 percent and the S&P gained 0.5 percent.The lackluster performance on Wall Street came on uncertainty about the outlook for the markets following recent volatility.
๐๐ถ๐ ๐ ๐๐๐โฏโฏ๐๐๐พโฏ๐๐น๐ โ ๐๐ค๐ฃ๐๐๐จ๐จ๐๐ค๐ฃ || from ms