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Equity

Equity Monday: A global selloff to kick off Disrupt week

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 20 September 2021

⏱️ 11 minutes

🧾️ Download transcript

Summary

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet. A few things this morning: I shook up the show format a little, including how the script came together and how it was organized. Hit me up on Twitter if you have notes. Disrupt is this week, so strap thyself in for the best tech event of the year, coming to your living room. The Equity team is hosting -- between the group of us -- a zillion panels and one of the two stages. Come hang out with us. It's going to be on heck of a show. On the news front, the global stock market is taking a whacking. US stocks are set to fall after European stocks went lower thanks to concerns that the Chinese property developer Evergrande and its constituent debt issues could spread to other parts of the market, possibly leading to contagion. Cryptos are also off sharply in the last 24 hours, so there sems to be little refuge in today's markets. A French hosting company is going public, an Indian used-car marketplace raised a boatload of cash, and Amazon is investigating a bribe. And we are expecting IPOs from both Freshworks and Toast this week. It's going to be a very busy few days. Pour some extra coffee, and get hype. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Oh boy, it is going to be one of those days.

0:04.0

Hello, this is going to be one of those days.

0:14.1

Hello, this is Alex, of course, happy Monday.

0:16.2

Hope you're doing well.

0:16.8

Hope you had a good weekend and that all things are goo-chy where you are.

0:20.5

I'm scared because the markets are in free fall this morning.

0:23.4

It is an absolute mess out there.

0:25.4

We have the Dow Jones Industrial Average off

0:27.6

620 points in pre-market trading or 2.8%.

0:31.8

That, in case you're not sure, is a lot.

0:34.4

Yes it is.

0:35.2

The NASDAQ is off 218 points or 1.4% this morning.

0:38.8

Again, pre-market trading numbers,

0:40.1

so we're kind of looking ahead

0:41.2

to what the US markets will do.

0:42.4

But over in Europe, the EU focused stocks 600 is down 2.17%.

0:47.8

So this is not a US issue.

0:49.8

And over in Hong Kong, the Hong Kong index was off 3.3%.

0:52.6

So it's just a complete mess out there.

0:54.8

So why?

0:55.7

Well, everyone's really worried about China.

0:57.9

Not the regulatory stuff this morning.

...

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