9/20, 3:31 PM (Source: TeleTrader)
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US opens in red amid global markets plunge

United States major stock markets opened with losses on Monday following a global sell-off and concerns over Asian markets' negative trading and China's troubled property sector overflowing into global markets. After years of active money borrowing for home construction, Chinese developer giant Evergrande is close to a collapse due to Beijing's crackdown on debt.

Meanwhile, investors are anticipating the Federal Reserve meeting scheduled to start Tuesday, after which the decision on pulling away monetary stimulus could be announced. Additionally, as colder weather approaches, the Delta variant of the COVID-19 virus in the US is at January levels.

The Dow opened with 1.61% or 540 points in the red as Dow Inc declined by 2.53%, while the S&P 500 lost 1.71% with Freeport-McMoRan plummeting 7.02%. The Nasdaq 100 dropped 1.79% led by falling by 4.05%. The euro slid 0.09% against the dollar trading for $1.1777170 at 9:44 am ET.

Breaking the News / LH