UK and European stocks are trading higher this morning, regaining some of the ground lost in Monday’s sharp sell-off. Fears of contagion from the crisis at Chinese property developer Evergrande increased with the realisation that the debt-ridden company was unlikely to receive direct government support. Global markets were quickly lower with some major indices falling to two-month lows.
Investors now look ahead to the US Federal Reserve’s two-day policy meeting today with the Fed expected to provide further detail regarding their tapering timetable.
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