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Early markets: Investors eye Chinese property sector

By Joseph Toppe

15:36, 20 September 2021

Dow downward trend
Dow on a downward trend - Photo: Shutterstock

The Dow Jones Industrial Average lost more than 500 points Monday as shares retreat amid Chinese property concerns.

Mid-morning, the Dow is 500 points or 1.4% lower, and is on track for its biggest one day drop since 19 July.

Meanwhile, the S&P 500 sank 1.5%, and the Nasdaq Composite lost 1.8%. For the month, all three major US indices are in declines.


The Chinese property market took heavy losses Monday as shares of China Evergrande plunged 13% in Hong Kong, helping drag down US and global equities.

Although markets were closed Monday in China for a holiday, the Hang Seng fell more than 3%.

Global selloff in risky assets

Bitcoin, the world’s largest cryptocurrency, is down 8% early Monday to $43,800, after dropping as low as $42,527 over the past 24 hours. Ethereum, the second-largest cryptocurrency, is down 9% to near $3,060.


0.48 Price
+0.330% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.00366


1,944.86 Price
-0.090% 1D Chg, %
Long position overnight fee -0.0185%
Short position overnight fee 0.0103%
Overnight fee time 21:00 (UTC)
Spread 0.30

Oil - Crude

72.88 Price
0.000% 1D Chg, %
Long position overnight fee -0.0154%
Short position overnight fee -0.0065%
Overnight fee time 21:00 (UTC)
Spread 0.03


14,358.70 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0255%
Short position overnight fee 0.0032%
Overnight fee time 21:00 (UTC)
Spread 1.8

Meanwhile, smaller crypto coins were also falling, including Cardano, Binance, XRP, Solana, with shares for Polkadot dipping 13% to $29.48.

Early trading gains and losses

Shares for Ford lost over 3%, shares for Carrier Global shed more than 3%, while General Motors and Boeing dropped about 2% each and Nucor steel lost 2.8%.

In energy, shares for WTI crude oil fell 2% on as Occidental Petroleum, Hess and Devon Energy all hit Monday declines.

In assets, the 10-year Treasury yield is down five basis points to 1.325%.

Read more: Risk sentiment tumbles on China and economic fears

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