Money
Wall Street tumbles on China contagion
Wall Street has plunged as fear of contagion from a potential collapse of China’s Evergrande prompted a broad sell-off
Overnight, investors were fleeing equities for safety.
The Nasdaq fell to its lowest level in about a month, and Microsoft Corp, Alphabet, Amazon, Apple, Facebook and Tesla were among the biggest drags on the index.
All 11 major S&P 500 sectors were lower.
Investors also were nervous ahead of the Federal Reserve’s policy meeting this week.
It follows the collapse in the price of iron ore, which has shocked markets in Australia and throughout the world.