https://i0.wp.com/ethicalfashionguatemala.com/wp-content/uploads/2021/09/markets-crashes.jpg?fit=781%2C201&ssl=1 201 781 Ethical fashion guatemala https://ethicalfashionguatemala.com/wp-content/uploads/2020/12/ethical-new-logo-sized.jpg Ethical fashion guatemala2021-06-20 13:42:452021-10-09 08:18:36Stock Market Crashes 900 Points Today!
Stock Market Crashes 900 Points Today! Why and who is to Blame? Fears about Chinese conglomerate Evergrande spread across global markets today. Global investors have been paying more and more attention to Evergrande, the sprawling Chinese real estate business on the brink of Bankruptcy. They’re increasingly worried about what they see.
In August 2021, the Financial Times reported that Evergrande Group is facing a record number of cases filed by contractors in Chinese courts as pressure mounts on the company’s management to reduce its $300bn in liabilities, including around $100bn in debts. In mid-September 2021 it was reported that the company was in danger of being unable to issue payments on loan interest due on 20 September
Who is to Blame? BlackRock walked away from a $3 billion dollar deal to save Evergrande. Actually, BlackRock’s plan was to walk away and drive Evergrande stocks to the bottom. Which they did.
BlackRock, Inc. is an American multinational investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with just over $9 trillion in assets under management as of July 2021.
Please be advised this post is not investment advice of Ethical Fashion Guatemala. We are only sharing facts collected on this event as part of our series about BlackRock, Inc, holdings. Evergrande was to issue payments on loan interest due on 20 September covering around $100bn in debts.