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Global Financial Markets And Crypto Wobble On China Credit Fears, Everything Goes Risk-Off

News Snapshot:

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite Index fell 2.4-to-2.9 percent Monday along with consumer confidence, amid a storm of market risks including fears that contagion from China’s property market could lead to a Chinese “ Lehman moment “. Bitcoin, which traded above $50,000 earlier this month, had a bad day, down 10 percent on Monday. The broader crypto market was in the red as well. Shares of energy and financial companies were among the worst market performers, and companies in sectors that are exposed to China’s resource-hungry economy experienced big declines, Wall Street Journal reported. The…

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