While looking for Evergrade stock I noticed that the energy company of the group fell 50% and the group itself didn't fall too much. Will be interesting if the vehicle group will make a correction.
Anyway the real estate company Evergrande is failing to support its huge debt to more than 70000 majour investors.
More than Million people in China might find themselves without a house if the company will bankrupt.
There is a huge pressure on the chinese government to save the company calling it the Chinese Lehaman Brothers.
Looks like China keeps getting the world into troubles...
Here is the realestate group stock graph
This might cause a majour crash in the stock market. That might affect the crypto market too as we saw in 2020 but in 2020 the crypto market corrected way above the stock market.
Lets see what happens ;)