Chinese authorities asking local governments to prepare for downfall of Evergrande – WSJ

According to the Wall Street Journal (WSJ), Chinese authorities are asking local governments to prepare for the potential downfall of China's real estate gain, the Evergrande Group, as reported by Reuters.

Market reaction

This headline doesn't seem to be having a significant impact on market sentiment so far. As of writing, the S&P Futures were up 0.77% on the day. Reflecting the upbeat market mood, Germany's DAX is rising 1.1% on a daily basis and the Euro Stoxx 50 is rising 1.3%.