The financial crisis gripping major Chinese property developer Evergrande has triggered a sharp turn in broader stock market sentiment, as seen by the S&P 500 dropping below its key 50-day moving average.
With news of the Evergrande debacle gaining steam last Friday, the S&P 500 closed the session below the 50-day moving average for the first time since June. The tenuous situation of Evergrande — which includes potential missed debt repayments — gained steam over the weekend and caused…
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