former Federal Reserve Board Chairman Alan Greenspan
the staff of the Ridgewood blog
Ridgewood NJ, reminiscent of the 1997 Asian Contagion, a Chinese property owner implodes and shares of a U.S. social media and auction company dive. While it’s pretty clear why banks are quivering in the vortex surrounding China’s Evergrande Group, the link between the lender’s troubles and stocks like Twitter or EBay is harder to see. Meanwhile, Shanghai-based developer Sinic Holdings halted trading Monday after an 87% drop in its shares. The sudden selloff in Hong Kong was accompanied by a surge in trading volume that was about 14 times its average in the past year.
Continue reading Market Sell-off On China Property Troubles Reminiscent of the 1997 Asian Contagion
