Markets fall, Evergrande crisis poses a “contagion issue”

Markets fell sharply on Monday.

Following falls in Asia, where the Hang Seng sank 3.3 percent, the S&P 500 and STOXX Europe 600 both fell 1.7 percent.

Investment sentiment was shaken by fears surrounding property developer China Evergrande Group.

“It has $300 billion in outstanding debt,” said Jimmy Chang, chief investment officer at Rockefeller Global Family Office. “There is a contagion issue if China Evergrande is not resolved.”