► European and Asian stocks, especially those connected with Chinese real estate, faced downturns due to rising concerns over the debt situations of major Chinese property developers. The situation was aggravated in part by China Evergrande Group's decision to cancel a creditor meeting.
► In Europe, the Stoxx 600 is trading 0.3% lower in early Monday trading. Sentiments were further strained by the EU’s chief trade negotiator's warning to China, indicating a firmer stance in defending the bloc’s interests. Markets await the release of important inflation and consumer confidence throughout Europe this week. German business climate came in slightly better than expected (85.7 vs. 85.2 but worsened further from the August reading 85.8) – assessments of the current situation fell thus to their lowest level since August 2020; Business expectations, however, came in slightly better than in August at 82.9 (82.7 August) – still very pessimistic.
► In the US, stock futures hinted at slightly negative / near flat opening with the S&P 500, Nasdaq, and Dow Jones trading 0.1% – 0.25% lower.
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