After the worst week since March on Wall St, three issues keep the pressure - a possible U.S. government shutdown at the end of this week, rising annual oil prices and a heavy diary of Treasury debt sales. Even before U.S. markets kick off on Monday, China's ongoing property bust threw another curve ball at stocks markets there. Shares of the ailing China Evergrande plunged 21.8% after the developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans.
FILE PHOTO: A view of the U.S. Capitol Building in WashingtonAfter the worst week since March on Wall St, three issues keep the pressure - a possible U.S. government shutdown at the end of this week, rising annual oil prices and a heavy diary of Treasury debt sales.
Country Garden fell more than 7% as investors nervously watch out for its latest dollar bond coupon payment on Wednesday. With world markets also still smarting generally from hawkish U.S. Federal Reserve soundings last week, MSCI's all-country index hit its lowest level since June 2 and was down for the seventh trading session in a row - its longest losing streak in over a year.
Congress so far has failed to finish any of the 12 regular spending bills to fund federal agency programs in the fiscal year starting on Oct. 1 - no agreement by then means Washington runs out of money to keep the government fully operating. U.S. crude prices have held most of September's gains and year-on-year price gains that feed annual headline inflation are now running at 15% - their highest annual pace of the year so far.
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